本艷情片為李翰祥編導，由兩個單元故事組成。首個故事講述柳宣教(姜南 飾)策劃了一個破玉通禪師(岳華 飾)「色戒」之奇計，著美艷妓女紅蓮(余莎莉 飾)向玉通大施色誘攻勢。第二個故事講述少女馮玉華(邵音音 飾)之母馮孫氏(陳萍 飾)欠下九尾狐(王萊 飾)一筆錢無法償還，被逼做妓女還債。後馮孫氏因性病死去，遺下一筆債務以及殮葬費須玉華償還；玉華無奈，只好踏上母親所走過之路……

Warlord Lei Zhengtian was hated by the people and many attempts were made to kill him. He therefore hired bodyguards to protect him. Although Lei was a tyrant, he feared his wife to death since his Warlord title was given to him by his father-in-law. His wife often shouted at him. One night, Lei was again scolded and hit by his wife. Enraged, Lei decided to visit the brothel. However, he was afraid of being assassinated. So he shaved all his beard, changed into a black suit and went in disguise.

李翰祥，香港著名导演。生于辽宁，长在北平，师从徐悲鸿。战乱年代辗转来至香港，几经波折成为导演，此后数十年间经历人生起伏，佳作迭出，却也饱受诟病。一晃三十年，这位大导演将从影以来遇见听说的乐事拍成电影。比如拍摄《白蛇传》时，法海与女演员在轿中偷欢，被剧组抓包；爱迟到的大明星引起全剧组的愤慨，结果遭到了戏弄；女演员掉威亚摔上，进而发现她已有两个月的身孕；风月导演亲自指导女主角拍舌吻戏。种种乐事，闻所未闻…… 本片根据李翰祥同名专栏连载改编，李受《东方日报》之邀以《三十年细说从头》开辟连载，讲述从影以来片场娱乐圈内发生的秘闻趣事，该专栏连载三年，被多家报刊转载竞登。本片也是李为邵氏拍的最后一部电影。

写实艳情导演吕奇哄动社会之作, 票房非常卖座.1977年, 政府放宽电检制度, <<财子名花星妈>>成为香港开埠以来, 第一部LOUMAO的三级电影, 一班艳星陈维英, 艾蒂, 凌黛的暴露演出, 惹人谈论.电影也大胆披露了所谓名流狎玩明星的荒淫行径, 诸如星妈出卖女儿, 导演骗财骗色等惊人内幕, 娱乐圈和上流社会的伤风败行, 又极尽渲染, 尽情堆砌, 更是香港电影史上首次出现全裸性虐待场面, 标志着香港三级电影的新里程

本片可以看做《大军阀》的续篇，讲述庞大虎之后又一位山东军阀的轶闻趣事，连智审风化案、给老太爷祝寿、军阀姨太偷情等桥段都大同小异。不过，较之《大军阀》的包罗万象、正谐兼备，这次《军阀趣史》的情节主要集中在风流韵事上，查暗娼、访私娼，叔嫂通奸、姨太偷情，一路香艳到底，胡锦、邵音音、余莎莉、楚湘云等一班艳星各展风情，自然噱头十足。