Faizon Love says a potential "Elf" sequel doesn't need the star power of Will Ferrell ... he says America is ready for a Santa's helper redo -- a Black elf.
The actor, who played the store manager in the original "Elf," tells TMZ ... he's surprised Will turned down a $29 million payday for a sequel, but it just opens the door for the movie to go in a new direction.
Faizon says with Will out of the picture, it's a perfect time to introduce a Black elf into the storyline ... and he thinks audiences will embrace the change.
It's pretty funny ... Faizon says America got warmed up with a Black president and then an "orange" president ... so a Black elf is just the next step.
Will says he turned down the huge payday because he didn't think the sequel would ever live up to the OG holiday classic ... a decision Faizon says few could make.
Faizon is offering his services though ... for a discounted rate and something you might find in a vending machine.