Buddy (as a Merman) is playing tag with a girl (Mermaid) on the sea floor. They discover an old sunken ship with treasure and an old piano in the hold.

Buddy is working as a projectionist in a movie theater. The newsreel features a caricature of Benito Mussolini and a gag on the Swiss Navy. Coming attractions include James Bagknee (Cagney) in Here Comes the Gravy and the double feature 8 Girls in a Boat with The Thin Man. Tonight's feature stars Cookie in The Chinchilla from Warmer Bros. Buddy sighs from the projection booth as she plays piano and sings. When a gorilla climbs in her window and attacks her, Buddy jumps into the picture, literally.