Churchy and Toadie cheat Pogo out of his lunch, after which Pogo joins Albert in a showboat cabaret performance. Churchy reappears as a pirate captain.
Mose, posing as Pogo, tells Rackety Coon Chile about the gold at the end of the rainbow. Albert and Howland are listening in, and when Pogo and Churchy fire rockets and flares, are convinced they see a rainbow. In the process, goblins and voodoo giants get mixed into this concoction of prime nonsense.