Sam is the captain and only occupant of a sailing ship and he's heading on a voyage for buried treasure with the means to get it for himself. He reaches the island, immediately finding the dig site and uncovers both a treasure chest and Bugs Bunny on it. Before Sam can deal with Bugs, the rabbit shoves the chest and Sam onto the ship and sets the ship in motion. Bugs avoids walking the plank and tricks Sam into thinking he's a charming mermaid, which gets him into a swimming chase with a shark. In the end, Bugs opens his treasure chest, which is revealed to be literally a chest of 18 carrots.