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Al, Harry and Jimmy, the directors of Colossal Ideas, Inc., are on the brink of bankruptcy thanks to their grandiose schemes. To forestall their creditors, the trio hires Bonnie Brooks, the leader of an all-girl band, and Maxine, Patty and LaVerne, a trio of female singers, to perform for their benefactors in the hope of enticing further investments. Their plan backfires, however, and they are forced to make a fast getaway. After providing their performers with the funds to sail to Argentina, where they have a booking at a resort hotel, the boys stow away on the boat carrying Bonnie and the gang to Buenos Aires. On board, Bonnie becomes captivated by the wealthy Eduardo Estaban, but when they dock in Buenos Aires and he is arrested, she becomes convinced that he is an outlaw. Unknown to Bonnie, the arrest is part of a welcoming home ceremony for Eduardo, the captain of the winning polo team, who then dons a gaucho costume to lead the victory parade. Once ashore, Bonnie and her entourage discover that the resort hotel is actually a small hacienda out in the country. The owners, Mama and Papa Viejos, welcome the group, and Al, Harry and Jimmy decide to turn the place into a dude ranch. Papa entertains them with stories of a daring bandit named "El Tigre," and consequently, when Eduardo and his friends ride past in gaucho costumes, Bonnie and the girls, thinking that Eduardo must be El Tigre, arrest them for the reward. Later, however, Bonnie has second thoughts and releases Eduardo and his men. The next day, Eduardo arranges for a party to be held at the hotel, and his wealthy friends fill the main buildings and barns. After a night of singing and dancing, Eduardo reveals that he is a rich polo star and not a bandit, and the success of the evening promises a profitable future for both Bonnie and the hotel.