Wayne and Garth, the beloved hosts of a public-access television show, are back with their zany antics. After experiencing a vision from none other than Jim Morrison, Wayne decides to organize a massive music festival called "Waynestock." Excited and driven by their newfound purpose, the duo begins the monumental task of bringing their dream to life. They face numerous challenges, including securing the bands and dealing with Wayne's new adversary, Bobby Cahn, a slick record executive who has his sights set on Wayne's girlfriend, Cassandra, and her band.

As Wayne becomes consumed by the mammoth task of pulling off Waynestock, his relationship with Cassandra starts to strain. Garth, on the other hand, finds himself entangled in a romantic subplot of his own, involving a mysterious woman named Honey Hornée. The pair’s dedication to their ambitions and relationships is tested as they navigate the myriad obstacles that come their way. With their unique blend of humor and perseverance, Wayne and Garth embark on a rollercoaster journey, encountering an array of quirky characters and surreal situations in their quest to make Waynestock a reality.