Ollie Dee and Stannie Dum try to borrow money from their employer, the toymaker, to pay off the mortgage on Mother Peep's shoe and keep it and Little Bo Peep from the clutches of the evil Barnaby. When that fails, they trick Barnaby, enraging him.

The gang attends a radio station amateur show.

The gang puts on a show, everything goes well, except they're missing an act.