A Victorian surgeon rescues a heavily disfigured man being mistreated by his "owner" as a side-show freak. Behind his monstrous façade, there is revealed a person of great intelligence and sensitivity. Based on the true story of Joseph Merrick (called John Merrick in the film), a severely deformed man in 19th century London.

An aged art connoisseur (Beaumont) and his young female neighbour (Coles), who has a job posing naked in a club, meet and exist in fantasy and reality. Although this raises certain much-discussed questions about the nature of representation, and about the construction of narrative and daydreams in films, 'Phoelix' tends to treat these as just pretty and pertinent issues, opting instead for a mannered concentration on detail.