The film features Daffy Duck in the role of legendary outlaw Robin Hood, and opens to the strains of his playing an instrument similar to an archlute or bouzouki.
As he prances along singing, he trips and tumbles down a bank into a lake. Watching is Porky Pig, as a Friar Tuck figure, who laughs uproariously at Daffy's inglorious plunge. The annoyed Daffy tries to prove his skill with a quarterstaff but manages to hit himself in the face with it, bending his bill in what becomes a recurring visual gag throughout the film.
He tries again, but while he is spinning his quarterstaff, Porky stops it with a wooden dowel, resulting in Daffy spinning around and falling back into the lake.
Having given up trying to impress the friar, Daffy attempts to leave, but Porky follows and asks him if he knows the whereabouts of Robin Hood's hideout as he wants to join his band of outlaws. Daffy proudly announces that he is Robin Hood, but Porky disbelieves him.
To prove himself, Daffy informs Porky that he will attempt to rob a rich traveller on a bouncing mule (and give his money "to some poor unworthy slob").
Daffy fails in each and every attempt he makes to stop the traveler, usually injuring himself in the process, be it accidentally firing himself from his own bow, or slamming into a succession of trees while trying to swing on a rope.
Eventually the rich traveler, oblivious to Daffy's attempts to rob him, reaches his castle unharmed. The frustrated Daffy gives up, and in the final scene walks on with a shaven head and wearing a habit, having decided to become a friar himself. As the film irises out, Daffy's bill bends back up one more time.
Oh, join up with me, so joyous and free And away to old Sherwood hie, For I'm Robin Hood, and I'm very good At avoiding the Sheriff's eye. So we'll trip along merrily, O'er the greensward so gracefully, To trip it, trip it, trip it, trip it, Trip it up and down, (he literally trips) To trip it, trip it, trip it, trip it, So trip it up and down.
The song is set to the traditional tune of a 17th-century broadside ballad, Come, Lasses and Lads, upon the first verse of which Daffy's lyrics are rather loosely based, but retaining the burden nearly unchanged:
Come, Lasses and Lads, get leave of your Dads, And away to the Maypole hie, For ev'ry fair has a sweetheart there, And the fiddler's standing by. For Willy shall dance with Jane, And Johnny has got his Joan, To trip it, trip it, trip it, trip it, Trip it up and down, To trip it, trip it, trip it, trip it, Trip it up and down.