Jack is joined by Don and Mary to joke about taxes and politics. Bob Crosby tells about the practical jokes his band members play on each other. Dennis pops in to add to some post Christmas humor about dinner at Jacks. He then sings, Heart and Soul. Rochester phones to tell Jack a bout a reporter who came by the house for an interview. Will he believe the stories that Rochester handed him? There’s also some trouble with Jack’s Christmas tree.
The play is announced, a spoof of the Road to Bali. Jack is to play Bob Hope’s part, Mary plays Dorothy Lamour, and Bob Crosby is to play Bing Crosby’s part. Bob Hope shows up to do his own ad libbing.
Bob and Bob get caught up, and poke fun at that other Crosby. Will they get to the play, or just stand there and swap wisecracks? Bob Hope helps the Sportsmen whip out the sponsor message, Thanks For the Memories. Dennis steps on stage to give Hope the crazy lines he usually tells to Jack.
With a revision to the cast, Bob Hope handles his part, and the voice over naration, spoofing himself. Will they find the sunken treasure, and evade the giant octopus?