In this spoof of the 1933 RKO film King Kong, network TV Exec O. J. Squeeze needs a new concept for a TV show to save his failing network. He sends his top reporter- Sweet Polly Purebread- to a remote South Sea Isle to find and return the world's biggest monster Fearo the Ferocious! Before long, Polly is aboard Captain Coward's ship bound for the tropics. Shoeshine Boy (alias Underdog) also hitches onto the crew to protect his true love, the skipper and the crew from Fearo. Unfortunately, the seas of the tropics are filled with dangerous seas creatures that terrorize the crew to the point of mutiny. The crew takes Polly, Captain Coward and Shoeshine Boy prisoner and prepares to force the trio to walk the plank.