George (Bing Crosby) and Harold (Bob Hope), American song-and-dance men performing in Melbourne, Australia, leave in a hurry to avoid various marriage proposals. They end up in Darwin, Northern Territory, where they take jobs as deep sea divers for a prince. They are taken by boat to an idyllic island on the way to Bali, Indonesia. They vie for the favors of exotic (and half-Scottish) Princess Lala (Dorothy Lamour), a cousin of the Prince (Murvyn Vye). A hazardous dive produces a chest of priceless jewels, which the Prince plans to claim as his own.