Daffy Duck is fired from Warner Bros. after demanding more screen time than longtime rival Bugs Bunny, but studio executive Kate Houghton, who ordered Daffy's dismissal, faces backlash for the decision. When Daffy intrudes on a studio tour guided by DJ Drake, an aspiring stuntman and security guard. DJ subsequently gets fired for failing to apprehend the duck. In the midst of the chaos, Daffy learns that DJ's father, Damian Drake, a famous actor known for spy roles, is actually a real-life secret agent. DJ finds a mysterious diamond called the Blue Monkey in his father's home, which Damian instructs him to take to Las Vegas before he is captured. Convinced this is his shot at adventure, DJ decides to rescue his father. Daffy, eager for a co-starring role, insists on joining him. Kate must track down Daffy to fix her mistake and salvage the studio’s public image, so she teams up with Bugs Bunny to find him.

As they embark on a wild journey, DJ, Daffy, Kate, and Bugs travel from Hollywood, to Las Vegas, and into the Nevada desert. Throughout their quest, they are pursued by the sinister Mr. Chairman of the Acme Corporation, who also seeks the Blue Monkey diamond for his own nefarious purposes. His henchmen, including the dim-witted Wile E. Coyote and the deadly Marvin the Martian, continually sabotage the group's progress. They confront numerous obstacles and bizarre situations, often blurring the lines between animation and reality, as they try to reach DJ's father and thwart Mr. Chairman's evil plan.