Smoke and Oil Dresden, portrayed by Jordan Peele and Keegan-Michael Key, are notorious assassins dubbed the "Allentown Boys." They initiate a bloody assault on a drug-processing facility owned by a Mexican cartel, eliminating the boss, King Diaz, along with everyone else present. In the chaos, they capture Diaz's cat, Iglesias, but while distracted by arriving police, Iglesias slips away. Concurrently, Rell, played by Peele, is reeling from a breakup with his girlfriend. He unexpectedly discovers Iglesias on his doorstep, instantly bonding with the feline and affectionately naming him Keanu. Rell's cousin Clarence, depicted by Key, comes to lend moral support, and upon meeting Keanu, they strikingly resemble the deadly assassins.
Two weeks pass, and with Clarence’s wife Hannah and her daughter out of town with her new husband Spencer, leaving him solo, Rell cheers him up by taking him to a Liam Neeson movie. Rell, now captivated by Keanu, returns home only to find his place ransacked and the cat missing. In desperation, he drags Clarence to consult their weed dealer, Hulka. Reluctantly, Hulka informs them that the local gang, the 17th St. Blips, may be responsible for the break-in and directs them to a downtown strip club. To infiltrate the Blips and recover Keanu, Rell convinces Clarence to adopt a "gangsta" alter ego. They dub themselves "Tectonic" and "Shark Tank," crossing paths with Hi-C, played by Tiffany Haddish, who is initially skeptical but agrees to take them to meet Cheddar, the gang's leader.
Excitingly, Cheddar mistakes Rell and Clarence for the Allentown Boys and, holding Keanu—now renamed New Jack—hostage, they find themselves coerced into aiding the Blips in a drug deal for a new substance called "Holy Shit." Meanwhile, the original Allentown Boys seek revenge and track the situation back to Hulka. After an intense team-building exercise, Rell, Clarence, Hi-C, and the gang head out to make their drug sale. Things take a chaotic turn when they encounter Anna Faris at the sale, leading to a disastrous fight that results in several deaths, courtesy of Hi-C.
As Clarence spirals into a surreal drug-induced trip where he hallucinates Keanu speaking to him, Rell grows increasingly worried and decides they should leave. However, as they attempt to escape, the real Allentown Boys capture them. Tensions heighten when they are tied up, but in a miraculous twist, Keanu helps Rell free himself, and they manage to take back control from their captors, killing them in the process. Their challenges continue when they face off against the Blips, who discover their deception and force them to attend a meeting with the Mexican drug cartel.
During this climax, a fierce gunfight erupts, leading to injuries that put Rell and Clarence in perilous situations. In a whirlwind escape involving a car chase, which ends with otherworldly humor as they crash and collide with various characters, justice begins to unfold. Hi-C, revealed as an undercover officer, confronts Cheddar and the Blips, claiming her authority while untangling the web of chaos the men have been embroiled in.
As they serve their sentences six months later, Rell and Clarence, now respected figures among inmates—including the remaining Blips—reflect on their journey. Hi-C informs them of a bittersweet twist regarding Keanu, who will forever remain a kitten due to a rare condition. In a comedic post-credits moment, the Allentown Boys reveal they're alive and plotting their next move, proving that in this wild world, the chaos is far from over.
