Tom Hanks, Tim Allen reunite as much-anticipated 'Toy Story 5' opens in theaters

NEW YORK CITY (WABC) -- It's the movie both kids and parents want to see.

"Toy Story 5" is now in theaters and this time around, it's toys versus tech. Old school versus new school.

It's time to head back into the toy box and beyond.

In "Toy Story 5," Woody, Buzz and Jesse are back, and this time facing a new foe... technology.

Lilypad is a device the growing Bonnie feels she needs to fit in at school. But, if she goes all in on tech, what will happen to all the toys?

Tom Hanks, Tim Allen and Joan Cusack all return to the beloved franchise.

"I have to be with him again," Allen said.

"Me? I'm not so sure. What time? Let me get a couple of things straight. I wanna make sure that the rising arc of the act one is gonna pay off," Hanks joked.

"I loved three," Allen said. "Four was so intense."

"They said goodbye," Hanks said.

For more than 30 years, the gang of toys have connected generations of audiences. Well, we're all getting a little older.

"The hat goes on. The hat goes off. The hat goes on," Hanks said. "The other is organic material that makes up Woody."

"It is, you know, it's stuffing and that is given over to it," Hanks said. "It breaks down in its complexity and gravity becomes suspect to gravity."

And how's this? Taylor Swift wrote a new original song for the film, "I Knew It, I Knew You."

"It means so much to me to actually be a part of this film in some small way because it's such an incredible world of imagination and playfulness and mischief. It's raised so many kids just like me. Like, I watched 'Toy Story' when I was five. So, I really think that, like, to be able to be welcomed into something that has welcomed me unknowingly its entire existence just as a fan feels, like, very poignant for me and my family," Taylor Swift said.

"I hope the happiness it brings is quite swift in its understanding of how important it is," Hanks said. "It's as though it's, oh, Taylor-made."

Disney is the parent company of Pixar and this station.