Retelling of the classic fairy tale, but from a decidedly 1960s point of view, complete with "groovy" dialogue.

Two suburban husbands rent an apartment in the city to use for extramarital encounters. Their wives find out about it, but instead of being angry they decide to make use of the apartment, too.

After his witch guardian threatens to turn him into a statue, young Tip runs off to Emerald City with his newly-animated companion, Jack. Along the way, he meets up with Genral Jinjur, leader of the Army of Revolt, who takes Tip prisoner as she marches her troops to take over the Emerald City.