No, you can't just plug a drive into your TV.
There are a bunch of appliances that will stream stuff to your TV (or recent consoles like the PS3 or XBox360). Examples would be something like this
or Apple TV. Those would probably be a better investment if you do this sort of thing regularly; there are more of these being released with more features all the time. Just make sure that the file you are trying to watch is in a format the appliance can read.
Otherwise, DVDs or plug in your laptop.