The story follows two adventurous hippies: Wyatt, affectionately called "Captain America" by his friends, portrayed by Peter Fonda, and his companion Billy, played by Dennis Hopper. Their names are a clever nod to historical figures Wyatt Earp and Billy the Kid. In the film, Wyatt sports leather attired with stars and stripes, while Billy opts for a rugged look featuring Native American-inspired buckskin gear, showcasing their unique identities.
After completing a drug smuggling run from Mexico to Los Angeles, the duo makes a deal with a mysterious man known as "Connection," who arrives in a luxurious Rolls Royce, portrayed by Phil Spector. With the illicit earnings secreted away in a tube within Wyatt's custom California-style chopper's fuel tank, they set off on a journey eastward in search of adventure and the vibrant Mardi Gras festivities in New Orleans. As they travel, they’re often met with prejudice from motels unwilling to accommodate their free-spirited hippie appearance, forcing them to camp out under the stars.
During their journey, Wyatt and Billy share a meal with a rancher, whom Wyatt admires for embracing a simple and traditional farming lifestyle. They also pick up a hitchhiker, played by Luke Askew, and spend a day at his commune. Life in this commune proves challenging for the naïve city-dwellers, as they struggle to cultivate crops in the arid land. Among the children at the commune is a young girl, who happens to be Wyatt's daughter, Bridget. The commune holds a spiritual prayer for their new crops, a moment that captures the essence of striving for simplicity: "to make a stand," and to grow "simple food, for our simple taste." The atmosphere is filled with creativity, thanks to a traveling theater group that entertains in exchange for food. Amidst the shared love and camaraderie, two women direct their affections towards Wyatt and Billy.
As they continue their travels, they jokingly join a parade in a small town, only to be confronted by local law enforcement for "parading without a permit." In jail, they encounter George Hanson, a local drunk and ACLU lawyer, portrayed by Jack Nicholson, who helps them secure their release and decides to join them on their trip to New Orleans. George, armed with a card for a whorehouse, humorously mentions he's always hoped to visit but has never made it past the county line. That night, around a campfire, Billy and Wyatt introduce George to marijuana, despite his skeptical attitudes regarding substance use.
The trio's carefree nomadic lifestyle soon faces hostility when they attempt to dine at a rural Louisiana restaurant. Their appearance draws the unwanted attention of local rednecks, and although they attract the curiosity of some teenage girls, they ultimately decide to leave, feeling unwelcome. George’s disdain for the changing times is palpable as he remarks, “This used to be a hell of a good country. I can't understand what's gone wrong with it,” expressing frustration over the supposed American ideal of freedom clashing with the societal fear of those who embody it.
The following night quickly turns tragic when they are ambushed in their sleep by local rednecks, who brutally assault them. While Billy manages to fend off the attackers, George tragically loses his life during the incident. Heartbroken, Wyatt and Billy honor their fallen friend by wrapping him in his sleeping bag and vowing to return his belongings to his family.
Determined, Wyatt and Billy finally reach New Orleans, where they locate the brothel George yearned to visit. Accompanied by sex workers Karen and Mary, the group immerses themselves in the festive spirit of Mardi Gras. In a moment of total abandon, they ingest LSD in a cemetery, embarking on a surreal journey through vivid psychedelic imagery intertwined with religious undertones.
As they set up camp afterward, Billy maintains an optimistic stance, believing they will retire wealthy in Florida, but Wyatt’s perspective is darker, declaring, “We blew it.” The following day, their adventure leads them down a quiet road in Alabama, where they encounter a pair of hostile locals. As Billy gets caught in a tense showdown and sustains severe injuries from a shotgun blast, Wyatt races back to him, desperate to help. Tragically, their fate takes a grim turn when the assailants target Wyatt, resulting in a horrific motorcycle crash that leaves him lifeless.
The film culminates with a haunting aerial shot of the smoldering bike and Wyatt's body lying on the desolate road, signifying the tragic end of their once-lively journey.
