In the hilarious third installment of Porky's, the story unfolds several months after the lively escapades of the previous films, now set in early 1955 in the sun-soaked, fictional beach town of Angel Beach. The film kicks off with a rather embarrassing dream that Pee Wee (played by Dan Monahan) has during graduation, where he finds himself naked underneath his gown, only for it to dramatically fall during the ceremony, much to the shock of his classmates.
As the semi-final basketball game nears, the spirited cheerleaders entice the boys with a promise of an orgy if they clinch a win. Propelled by this tempting reward, the boys do indeed triumph, and soon find themselves at one of the girls’ homes. What follows is a chaotic moment where everyone jumps into a swimming pool, shedding their clothes in a frenzy. However, they comically realize too late that the girls are fully clothed, leading to a hilarious moment where the boys end up parading in the buff in front of the girls and a home movie camera.
Meanwhile, our old friend Porky (portrayed by Chuck Mitchell) has upgraded his business, now managing a riverboat that doubles as a casino and strip club. In a twist, the gang learns that Porky is extorting money from their beleaguered coach, Coach Goodenough. Determined to expose Porky's illegal operations, the boys concoct a plan to photograph the casino, but they unexpectedly run into trouble when Meat (played by Mark Herrier) encounters Porky’s overly enthusiastic daughter, Blossom.
Just as they attempt to carry out their plan, Porky discovers them and is furious until the boys mention the State Championship game, realizing they could indeed throw the game for him. As the ruckus continues, Meat finds himself in a precarious situation in biology class, struggling with his discomfort over dissecting dead animals. His friends decide to get a copy of the final exam from Miss Webster but walk in on an unexpected scene—her and the School Guidance Counselor, Mr. Dobish, caught in a rather steamy moment.
In a comedic twist, a letter is sent to Ms. Coach Balbricker regarding a rendezvous with an old flame, while Pee Wee is lured into a motel room, embroiled in a cunning prank. However, the situation escalates when Ms. Balbricker and Tommy unexpectedly find themselves in bed together, leading to a moment of horror and realization.
As the final game approaches, Meat is put on the sidelines due to a deliberate misstep by Miss Webster. The Angel Beach team faces daunting challenges, especially when crucial blackmail photos of Miss Webster and Mr. Dobish go missing. However, during halftime, a surprising turnaround occurs, and Miss Webster ultimately decides Meat can join the game. This sparks a triumphant second half for Angel Beach, igniting both hopes and Porky’s ire. Blossom’s declaration that Meat is her boyfriend only stokes Porky’s fury further.
All hell breaks loose at the senior prom when Meat is abducted by Porky and his henchmen. Fueled by a determination to rescue their friend, the gang takes matters into their own hands. As tension builds during the wedding ceremony aboard Porky’s showboat, a sudden power outage allows Meat’s friends to successfully liberate him. The ensuing chase between the showboat and their rowboat culminates in a chaotic moment at the drawbridge, with Pee Wee heroically bringing down the bridge, resulting in the spectacular destruction of Porky’s boat.
Finally, the film comes full circle at graduation, where Pee Wee is once again tricked by his friends, leading to a comical incident reminiscent of his earlier dream—just as he is about to receive his diploma, his gown is stepped on, unveiling his nakedness for all to see, closing the film on a perfectly embarrassing note.
