(CBS) Will Ferrell is best know for the seven years he appeared on "Saturday Night Live," as well as his roles in the films "Austin Powers" and "Zoolander."

In his new film "Old School," he plays "Frank the Tank," a character he describes as "a big teddy bear of a guy."

Frank decides to start a fraternity with his two thirty-something best friends, Mitch (Luke Wilson) and Beanie (Vince Vaughn). At a crossroad in their lives, they can choose to be responsible adults, with wives, families and steady jobs or they can postpone adulthood in favor of post-graduate frat-house living with all of the fun and none of the education.

"He is getting married, but even at the altar, he doesn't really know if it's the right thing," Ferrell says of his character. "He has this alter ego, 'Frank the Tank,' from his past party days, who is not quite out of his system. Over the course of the film, 'Frank the Tank' takes over and pretty much wrecks his marriage. But that's OK; we don't really want to see Frank married."

Revealing what attracted him to the project, Ferrell jokes, "Number one, I wanted to be able to run naked through the streets of Montrose. Once I found a role that satisfied that, I knew I was OK.

"Actually," he continues, "the opportunity to work with Vince Vaughn and Luke Wilson was the biggest thing for me. Then I met Todd Phillips and thought that the combination of the four of us working together, along with the premise of the movie, had the potential for a really fun comedy."

About Will Ferrell

• Born in Irvine, Calif., July 16, 1967.
  
  
• Attended University High School in Irvine, Calif. (1986).
  
  
• Attended University of Southern California in Los Angeles, Calif. Majored in sports journalism (BS).
  
  
• After graduating from USC, worked as a sportscaster for a weekly cable series and began peforming stand-up routines
  
  
• In 1991, began studying improv with The Groundlings; after six months, asked to join the troupe; first worked with fellow "Saturday Night Live" cast members Chris Kattan, Ana Gasteyer and Cheri Oteri. Created Simpatico, a mock performance artist troupe, that appeared in local comedy clubs
  
  
• In 1995, appeared in the Showtime TV-movie "A Bucket of Blood" and joined cast of NBC's "Saturday Night Live"; received 2001 Emmy nomination
  
  
• In 1997, made his feature film debut, "Austin Powers, International Man of Mystery" as Mufasa
  
  
• In 1998, co-wrote (with Chris Kattan and others) and co-starred in the comedy "A Night at the Roxbury,:" based on characters created for "SNL"
  
  
• In 1999, Farrell portrayed Watergate reporter Bob Woodward in the satire "Dick." He also costarred in the "SNL" Mary Katherine Gallagher spin-off "Superstar."
  
  
• In 2000, appeared in the "SNL" spin-off movie "The Ladies Man"
  
  
• In 2001, he had a supporting role in "Jay and Silent Bob Strike Back" and acted in the broad comedy "Zoolander," starring Ben Stiller and Owen Wilson
  
  
• In 2002, Farrell left "Saturday Night Live" to pursue a movie career

In "People" magazine, Lorne Michaels producer of "Saturday Night Live," said the following about Farrell, "Will is the glue that holds the show together. He's the first choice of the writers for almost every sketch. His style is not so strong that it overwhelms the writing."

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