Shrek remains a savvy showman. And the shenanigans of his eccentric coterie are still fun, if a bit familiar and a jot more bland.

It's pretty tough to resist a curmudgeonly ogre and his spunky royal wife, a loquacious donkey and a dashing cat in a plumed hat. Not only are the characters in Shrek the Third (* * * out of four) endearing and their antics consistently amusing, but the witty dialogue also feels up-to-the-minute and a fairly natural progression from its predecessors.

Hit movies have fallen into a pattern of ever-expanding sequels. The trend intensified after the success of The Lord of the Rings and Harry Potter movies. But where those films were informed by their literary antecedents, the latest blockbuster trilogies appear motivated more by greed than creativity.

Perhaps the variations on the theme work better in Shrek the Third than in most sequels because these computer-animated fairy-tale spoofs focus on storybook characters that have an inherently familiar quality.

However, the main element that's missing in this third go-round is the sense of fresh discovery felt with the 2001 original. It's as if we're revisiting beloved pals known for their lively escapades, but their exploits have the whiff of been-there, done-that.

Still, new issues loom large for Shrek (Mike Myers) and his bride, Fiona (Cameron Diaz), leaving the series open for a fourth installment. Donkey (Eddie Murphy) has a litter of adorable donkey-dragon babies to keep him hopping, and the feline Lothario, Puss In Boots (Antonio Banderas), is around to steal scenes.

When Fiona's froggy father, King Harold (John Cleese), croaks, a new ruler must be found. Always happiest in his swampy home, Shrek has no interest in the assignment. And much too interested is the nefarious and narcissistic Prince Charming (Rupert Everett), who attempts a medieval coup, enlisting the support of disgruntled villains from a host of classic tales.

Shrek, Donkey and Puss set off to coax Fiona's teenage cousin Artie (Justin Timberlake) to take his rightful place as the heir to the throne. Some of the movie's funniest scenes take place at his fairy tale high school. Adventures ensue, including a hilarious stopover at the home of Merlin the wizard (Eric Idle).

Culminating with girl power moments from diva princesses voiced by Maya Rudolph, Amy Poehler and Amy Sedaris, the action closes with an apropos number: Sly and the Family Stone's Thank You (Falettinme Be Mice Elf Agin), performed by Murphy and Banderas.

The world of the fanciful fable looks particularly vibrant this time with its signature blend of realism and fantasy. It is a pleasure to watch these fairy tale folk be themselves — yet again.