Having to leave Melbourne in a hurry to avoid various marriage proposals, two song-and-dance men (Bing Crosby and Bob Hope) sign on for work as divers. This takes them to an idyllic island on the way to Bali where they vie with each other for the favors of Princess Lala. The hazardous dive produces a chest of priceless jewels which arouses the less romantic interest of some shady locals.