Walt Disney enlisted former colleagues Hugh Harman and Rudy Ising to help create this underwater Silly Symphony. Ocean waves form merbabies who are summoned to an aquatic circus playground on the sea floor, where they interact with a parade of seahorses, starfish and other marine life, before disappearing into the surface from which they came.

A chicken has hatched seven chicks. She locates six of them, but the other, Eggbert, is missing.

While streetworker Mickey romances Minnie, Mickey's nephews Morty and Ferdie take control of his steamroller and it's full speed ahead on a very destructive ride.

Things get tough for Carol and her showgirl pals, Trixie and Polly, when the Great Depression kicks in and all the Broadway shows close down. Wealthy songwriter Brad saves the day by funding a new Depression-themed musical for the girls to star in, but when his stuffy high-society brother finds out and threatens to disown Brad, Carol and her gold-digging friends scheme to keep the show going, hooking a couple of millionaires along the way.

Prohibition is ending so bootlegger Bugs Ahearn decides to crack California society. He leases a house from down-on-her-luck Ruth and hires her as social secretary. He rescues Polly Cass from a horsefall and goes home to meet her dad who sells him some phony stock certificates. When he learns about this he sends to Chicago for mob help.

A producer puts on what may be his last Broadway show, and at the last moment a chorus girl has to replace the star.