Having to leave Melbourne in a hurry to avoid various marriage proposals, two song-and-dance men 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 favours of Princess Lala. The hazardous dive produces a chest of priceless jewels which arouses the less romantic interest of some shady locals.
- Bing Crosby as George Cochran
- Bob Hope as Harold Gridley
- Dorothy Lamour as Princess Lala McTavish
- Murvyn Vye as Prince Ken Arok
- Peter Coe as Gung
- Ralph Moody as Bhoma Da
- Leon Askin as King Ramayana
Among the celebrities who made token "gag" appearances in this film are bandleader Bob Crosby (Bing's brother), Humphrey Bogart, by way of a clip from The African Queen, Jerry Lewis, Dean Martin, and Jane Russell, as her character from the 1952 film Son of Paleface. The cameo by Martin and Lewis was part of a 'comedy trade' whereby they made an appearance in this movie while Hope and Crosby appeared in Martin and Lewis's Scared Stiff the following year. Martin and Lewis also made films for Paramount at the time.