This movie is only slightly behind “Phantom Menace” in anticipation and excitement among kids, but parents need to know that it is very, very, very raunchy, with incessant and prolonged sexual humor. Because it is a comedy, the rating system gives it a PG-13, but the material would clearly get an R if it appeared in a drama. Do not kid yourself that some of these jokes are “over their heads.” Those kids who do not see it — or who do see it and miss some of the jokes — will hear detailed explanations from those who do of references like Powers asking one woman “Which is it, spits or swallows?” and pretty much every woman “Do I make you horny?” In addition, the movie features character names Felicity Shagwell and Ivana Humpalot, a rocket shaped like a penis (described by a series of characters with every imaginable euphemism), references to a one-night stand “getting weird,” an extended sequence in which it appears that a number of objects are removed from Powers’ rectum, and Powers’ inability to perform in bed due to his missing “mojo.” There is also a good deal of potty humor, including Powers mistaking a stool sample for coffee.

The movie is very funny at times and always genial enough to inspire generosity toward the jokes that don’t work. Spy boss Basil Exposition (Michael York) wisely advises both Powers and the audience not to think too much about the plot. So we are left with a series of skits as Austin Powers (Mike Meyers) loses his wife (Elizabeth Hurley from the first movie, who turns out to be a killer robot), meets up with CIA agent Felicity Shagwell (deliciously pretty Heather Graham) and goes after Dr. Evil (also Mike Myers), still plotting world domination, with the assistance of Number Two (played by Robert Wagner in the scenes set in the present and Rob Lowe doing a great Robert Wagner impersonation in the scenes set in the past). Dr. Evil goes back in time to 1969 to steal Powers’ “mojo” with the help of a huge Scot called Fat Bastard (also Mike Meyers) and Powers goes back to 1969 to retrieve it. Meanwhile, Dr. Evil is still struggling with his dysfunctional relationship with his son (Seth Green), who goes on the Jerry Springer show to talk about it with other children of fathers plotting world domination. Dr. Evil becomes very attached to a tiny clone of himself, christened “Mini-Me” and takes time out from extorting billions of dollars from the President (Tim Robbins) to sing “Just the Two of Us” with him. And somehow everyone ends up on the moon.

This is silly fun for its core audience of college kids. They will find the jokes about the 1980’s wildly funny, though they may miss some of the jokes about the 1960’s. Parents should be very cautious about allowing children or young teens to see the movie, and should be prepared to talk with kids who see or hear about it, to answer questions, explain family standards on the use of the language in the movie, and to provide reassurance.