Marvel superhero movies have only recently become acclaimed, Oscar-nominated, money-printing pop-culture bonanzas. We’ve been spoiled by the likes of “Black Panther” and “Guardians of the Galaxy" ― back in the 2000s, and even before then, comic-book fans lived for “Blade,” the “X-Men” movies and even “Daredevil,” where angsty do-gooders in leather enjoyed a few influential highs but also some serious lows.

It’s that era that Ryan Reynolds and Hugh Jackman, decked out in colorful costumes and wielding sharp objects for endless stabbings, lovingly pay tribute to as the title frenemies of “Deadpool & Wolverine” (★★★½; rated R; in theaters Friday). Thanks to offscreen business dealings ― satirized within the gut-busting narrative ― Reynolds’ Deadpool and Jackman’s Wolverine (a 2000s staple making his grand return after a sacrificial swan song in 2017’s “Logan”) finally are tossed into the Marvel Cinematic Universe.

“Can you imagine the fun? The chaos? The residuals?” Reynolds’ Merc with a Mouth says about the delightfully meta, proudly gonzo buddy-comedy teamup that’s extremely violent, often hilarious, occasionally touching and always a good time.

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The best of the MCU outings since “Avengers: Endgame,” the newest movie is a similarly themed spectacle about life and legacy that's more interested in the past than the future, nodding to the 20th Century Fox Marvel films and others that kept the superhero fires burning until Iron Man and the Avengers came along.

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If only Deadpool could be one of Earth’s Mightiest Heroes. When audiences catch up with Wade Wilson, he's hung up the red and black suit after bombing an interview to become an Avenger ― “They are the best of the best, and they do what matters,” he says ― and is working as a used-car salesman.

Still, he yearns to be more than “a one-trick pony” of curse words, fourth-wall-breaking and wanton mayhem, though Deadpool does that really well. One night while celebrating his birthday with his ex (Morena Baccarin) and their friends, agents from the Time Variance Authority capture him for a meeting with Mr. Paradox ("Succession" alum Matthew Macfadyen). Rocking a god complex with a whiff of smarmy middle management, Paradox offers Wade the chance to be a hero in the “sacred timeline” of the MCU. (Or, as Wade proclaims, “Marvel Jesus.”) The only caveat: His current universe, and his loved ones, are soon to be wiped out of existence.

To save his world, he needs to find a Wolverine, and ends up with the Logan whom Paradox deems “the worst,” because this version of the clawed X-Men failed his world most miserably. Deadpool and Wolverine get chippy, and Paradox sends them to the Void, a “Mad Max”-like purgatorial “trash heap” with characters that fanboys and fangirls have seen before and probably thought they’d never see again. (And perhaps a couple they couldn't even imagine.)

Cassandra Nova (Emma Corrin), the icy and powerful twin sister of the X-Men’s Professor X, is the head honcho of the Void who can root around in someone’s mind with her fingers. She and her minions are a dangerous bunch, and to get home and fix both their worlds, Deadpool and Wolverine face them, hop in a Honda Odyssey (that Deadpool hates) and embark on a road trip full of attitude and catharsis.

Since both heroes have the ability to bounce back from any nasty wound, there’s a "Looney Tunes" level of cartoonish carnage they can perpetrate on foes, as well as each other. Acting-wise, the leads get past their characters’ superficial qualities ― Deadpool’s politically incorrect snark, Wolverine’s grumpy broodiness ― to dig into their vulnerabilities. Jackman especially runs a gamut of emotions as a Logan lashing out because of the trauma he’s faced; whatever they’re paying him in cash and themed popcorn buckets is not enough.

Miraculously, the heartfelt stuff isn’t buried by the film’s commitment to nonstop shenanigans and giddy self-awareness. Director Shawn Levy is used to juggling characters and cultural references from his work on “Night at the Museum,” “Free Guy” and “Stranger Things,” but this is next level.

Like Mel Brooks doing a Marvel event movie, “Deadpool & Wolverine” doesn't let up with its barrage of meta jokes blurring the line between fiction and reality. It cleverly goofs on everything from the Los Angeles Rams and "Gossip Girl" to other Jackman and Reynolds roles and the MCU itself. Not to mention Deadpool doing the ’N Sync “Bye Bye Bye” dance, a multiverse-hopping montage set to Huey Lewis’ “The Power of Love” and Easter eggs that only comic-book fans will appreciate.

Most of the silliness lands, and the stuff that doesn’t is enveloped by the total chaos, anyway. That’s all to be expected with Deadpool around. The meat of the matter, surprisingly, is the loving closure given to the Fox movie run, plus a reminder how much an unleashed Jackman rules now, and always did.