Daffy Duck and Speedy Gonzales find a treasure map that leads them to a wishing well, which for a penny will grant any wish (through old cartoon footage). Daffy sets up a resort around the well and various Looney Tunes characters have their dreams come true. Meanwhile, Yosemite Sam and the Tasmanian Devil hunt for the varmints who stole their treasure map!

Bugs Bunny hosts an award show featuring several classic Looney Tunes shorts and characters.

The Bugs Bunny/Road Runner Movie is basically a collection of Warner Bros. short cartoon features, "starring" the likes of Daffy Duck, Porky Pig and Wile.E.Coyote. These animations are interspersed by Bugs Bunny reminiscing on past events and providing links between the individual animations which are otherwise unconnected. The Road Runner feature at the end consists of sketches from various RR separates (well it does in the 78-minute version anyway).