The cinematic adventure kicks off with the charming con artist, Chuck Reardon, captivating the audience by singing "You Lucky People, You" while working as a sideshow barker at the circus. His partner in crime, Hubert "Fearless" Frazier, pulls off a daring stunt, posing as a human cannonball. In a clever twist, he substitutes a dummy at the last moment and sneaks away into a hidden compartment. However, their act takes a fiery turn when the explosive prop ignites the tent, forcing the pair to make a hasty escape to Africa amidst the smoke.
Their journey leads them to an opulent restaurant where they are generously treated with champagne by the diamond magnate, Charles Kimble. Under his influence, Chuck falls for the allure of purchasing the rights to a diamond mine, only to have fearlessly realize it's a scam, leading to a rift between the two friends. Later that evening, Fearless triumphantly returns with cash, claiming to have sold the mine to the enigmatic Monsieur LeBec. Instead of accepting the offer, the duo cleverly dodges the invitation to the mine inspection and hops onto a ship heading to the interior of Africa.
Once stranded and broke, they encounter Julia Quimby, who entices them with a mission to rescue her friend, Donna LaTour, from a slave auction. What Chuck and Fearless don't realize is that Julia and Donna are themselves con artists, leveraging the desperate situation for their gain. They enlist Chuck and Fearless on a so-called African safari, hiding their true intentions of getting closer to Donna's wealthy boyfriend. Throughout the adventure, both men find themselves competing for Donna's affections.
As the plot thickens, Chuck and Fearless discover they've been tricked all along and storm off into the wild to confront the duplicitous Donna. During an unexpected encounter with leopards that tear apart her clothes while she bathes, they mistakenly believe she's perished. In a comically heart-wrenching moment, they prepare a funeral for her, pouring out their genuine emotions during the eulogy despite her previous deceptions. They are moved to tears singing "It's Always You," only for Donna to join in, leading to a fitting confrontation fueled by anger and betrayal. Ultimately, the safari departs without them, and they are left to navigate the untamed wilderness alone.
Exhausted, muddy, and broke, the duo stumbles upon a hidden trove of gold nuggets bestowed by native tribes. Their luck changes when they reunite with Julia and Donna, who shockingly confesses her love for Chuck. This revelation sparks a new entrepreneurial dream amongst the four friends: to establish an exhilarating carnival in Zanzibar, featuring Julia as the grand attraction, astonishingly sawed in half right before their audience's very eyes.
