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To help Colonel Munday's ailing carnival, barker Jimmy Bates stages a scene with Teresita, an exotic dancer, in which he announces that the name of the local scoundrel who had deceived Teresita's mother years before is to be revealed during her next performance. After collecting "hush" money from various men in the town, Jimmy, Teresita and Achilles, an escape artist, are exposed as phonies by the sheriff. Having barely escaped arrest, the trio drives to New York, where Teresita, who is still dressed in her "harem" costume, attracts much attention. Inspired by the crowd's reaction, Jimmy announces the arrival of Princess Exotica from Turkey and tricks his way into a suite at the Savoy Ritz Hotel. There Jimmy plots publicity gimmicks to promote the "princess" and, with the help of a stunt airplane, a lion and thirty pounds of raw meat, finagles a generous contract for Teresita with Broadway producer Merle Farrell. When Teresita's austere Turkish dance number in Farrell's "Follies" show flops, however, Jimmy rushes onto the stage and improvises a little drama that segues into Teresita's performance of a jazzy carnival song. An overnight success, Teresita suddenly cools her relationship with Jimmy, who is on the verge of proposing to her, and makes plans with the married Farrell. Jealous but proud, Jimmy leaves Teresita and, after taking a compromising photograph of Farrell in Teresita's hotel room, hunts for a new "discovery." Jimmy introduces "Eve," a neophyte nudist, to the New York press, blackmails Farrell into signing her to a contract by plastering various enlargements of the compromising photograph all over Farrell's office, then establishes himself in his own publicity company. Without Teresita and Achilles, who has bought Munday's carnival, however, Jimmy becomes bored and irritable. Consequently, when Achilles wires him and begs for help, Jimmy quickly takes off for the carnival. There he discovers that Teresita, who had been fired from Farrell's show, is singing her carnival song and is waiting for him.