Plot: Princess Margaret is travelling incognito to elope with her true love instead of marrying the man her father has betrothed her to. On the high seas, her ship is attacked by pirates who know her identity and plan to kidnap her and hold her for a king's ransom. Little do the cutthroats know that she will be rescued by that unlikeliest of knights errant, Sylvester the Great, who will lead them on a merry, and madcap, chase.
Alternative Plot: Princess Margaret (Virginia Mayo) flees her father to marry a commoner, but is abducted by notorious pirate The Hook (Victor McLaglen). Also on board the pirate ship is The Great Sylvester (Bob Hope), a cowardly actor who, disguised as a gypsy woman, was kidnapped by The Hook's tattoo artist, Featherhead (Walter Brennan). Dismayed to learn Sylvester is a man, Featherhead forces him to steal The Hook's treasure map, and take both it and Margaret to a distant island so he can later claim them.
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