Pretty teenager Bonnie McCoy takes Sandy by surprise when she sails into view aboard a floating zoo.

Sentinel of the sea Flipper discovers a sinking raft, manned by Bonnie McCoy, her father, an elephant and a chimpanzee.

In an effort to raise money to pay off creditors of McCoy's Floating Zoo, Sandy and Bud join Bonnie McCoy in a scheme to run away with her father's elephant and chimpanzee.

Judy the chimp steals a briefcase full of money and Sean McCoy of McCoy's Floating Zoo is arrested. Sandy, Bud and Bonnie decide to put on a show with Flipper to raise money for her father's bail.