Common Sense Note
Parents need to know that this popular teen comedy seems to endorse such boys-gone-wild stuff as underage drinking/drugging, reckless vehicle operation, and youthful sex, though such activities are mostly kept to the margins. Girls are briefly shown in bras and panties. There are references to homosexuality, including the pejorative "fag" tossed casually around, even by the nice-guy hero. Viewers hoping for more intensity are barking up the wrong werewolf movie; no real horror here. The sequel, Teen Wolf 2 (sometimes bundled on the same DVD) is much the same but doesn't have the virtue of Michael J. Fox in the lead -- Jason Bateman played a cousin instead.
The main character has (offscreen) sex with a classmate; no nudity shown, but she strips to her underwear and removes her bra (shown from the back) in anticipation. Boys and girls acting flirty at a raucous party, including one guy shoving his face into a (willing) co-ed's bosom. Brief shot of girl and guy tied up and covered in shaving cream and little else in some sort of party game. Homosexual and "fag" references include a double-entendre joke about "coming out of the closet."
A few fistfights, with suggestions that Scott, as a wolf, could really hurt people if he really tried (but he doesn't).
"Bastard," "ball-buster," "dicknose," "fag," "damn."
On the plus side, Scott worries about whether his elevated status as a wolf-boy is earned or not, and how this affects his relationships. He ends up imparting a message of self-actualization (without the hairy transformation) to his teammates. Reckless teen behavior includes a goal of alcohol-drinking, and boys dangerously "surfing" by standing on top of a moving van on the road (one even falls, but no injury); this is taken as a sign of strength and machismo.
Drugs / Tobacco /
Scenes in which the underage hero and his buddies conspire to try to get alcohol from a liquor store (including via robbery). Scott's cool buddy has a "stash" of herbal-looking stuff in a plastic bag; you can guess what that's supposed to be.