We've had something similar - DD went through a phase where she would see something quite innocuous and freak out and say 'it's scary'. It would depend on what it was as to how we dealt with it. If she was being really silly about something we would get down with her and show her it really wasn't scary. One time she freaked at something on TV so DH showed her the magic glasses - he told her that her new sunglasses were special and that if she was wearing them nothing scary could see her. This helped when she wouldn't be 'reasoned with' (as much as you can with a 2 year old
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It has passed and looking back I think it was a way for her to get attention, so I would suggest trying not to make too much of it. Maybe divert with silly questions? (what's the bears name; is it talking to the elephant; is it wearing red or blue shorts today) Or the silent cuddle (cuddle them without saying anything and if they are just putting it on then they will get bored pretty quick).
Hope he works though it quickly for you. Good luck.