Alvin Corwin is low man on the totem pole, and goes from one mishap to another at an army training camp in World War II.

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.