A nuclear leak creates a mutant Slithis sea monster, which terrorizes the variety of pets, winos, and hippies who hang around Venice, California.

Aspiring filmmakers Mel Funn, Marty Eggs and Dom Bell go to a financially troubled studio with an idea for a silent movie. In an effort to make the movie more marketable, they attempt to recruit a number of big name stars to appear, while the studio's creditors attempt to thwart them.

Hobos encounter a sadistic railway conductor that will not let anyone "ride the rails" for free.

When she finds out what her philandering phone company boss husband has been up to, a feminist plots revenge.