The charmingly simple conceit behind Mary Norton's children's fantasy novel series "The Borrowers" is that there are a race of tiny people, no bigger than a stack of quarters or a human thumb, that live underneath your floorboards, sneaking into your home at night to "borrow" things essential to their survival. While this doesn't explain the mystery of the missing sock, it does give a nifty explanation to misplaced household items, told with a twinkly kind of magic that's easy to believe in, especially at a time in your life when you too are smaller than most people.
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This does sound like it's going to be good. I don't normally go to the theater to see animation...it's very rare anyway but I would pick it up on sale after it's release if I heard it was good.