Having to leave Melbourne in a hurry to avoid various marriage proposals, two song-and-dance men sign on for work as divers. This takes them to an idyllic island on the way to Bali where they vie with each other for the favours of Princess Lala. The hazardous dive produces a chest of priceless jewels which arouses the less romantic interest of some shady locals.
Capitalizing on the famous radio 'feud' between comedians Jack Benny and Fred Allen. The two stars play versions of themselves, constantly at each other's throats due to real and imagined slights.
Bing Crosby performs with special guests Bob Hope, Marion Ryan, Dave King, Terry-Thomas, and Shirley Bassey.
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