Watch: Will Ferrell responds to the Asda Christmas advert, featuring Elf
The advert splices footage from the 2003 Jon Favreau film — which topped Yahoo's list of the best Christmas films of the 21st century — into newly shot scenes in the supermarket.
Asda enlisted the help of special effects maestros Framestore to seamlessly incorporate memorable Elf moments into the advert.
Read more: Is Elf the most overrated Christmas movie?
Speaking to Yahoo UK to promote his new film Spirited, Ferrell said: "Well, it kinda helped me finally get paid market value for when I shot Elf."
The star revealed he had seen the finished advert and said he thought the incorporation of the old footage was 'well done'.
But when asked whether he might return to the green suit for a return to the character, the actor said the ship has sailed.
"No, I think that would look strange. A 55-year-old man running around in tights. I think Elf is its own entity," said Ferrell.
The actor's Spirited co-star Octavia Spencer suggested that there could be a way for it to happen, saying: "Unless you take on the Santa [role] and crown a new elf. Don't close the door. We're not closing the door."
Ferrell responded that "the door is ajar", with Spencer saying it's open "a small crack".
In Spirited, Ferrell plays the Ghost of Christmas Present in a story that reimagines the ghosts of A Christmas Carol as staff at a paranormal company tasked with redeeming one scumbag every Christmas.
This year's target is scuzzy marketing exec Clint (Ryan Reynolds), but the ghosts' task is complicated by the fact he's an "unredeemable" figure — and Present's flirtation with Clint's assistant Kimberly (Octavia Spencer).
The movie is a musical, featuring original songs by La La Land duo Benj Pasek and Justin Paul, with the cast also including Sunita Mani, Patrick Page and the voice of Tracy Morgan.
Spirited is available to stream on Apple TV+ from 18 November.
Watch: Trailer for Spirited