It's time for another Looney Tunes "Rabbit Season/Duck Season" animated short, but Daffy Duck (voice of JOE ALASKEY) is upset that he's constantly in the shadow of his more famous costar, Bugs Bunny (voice of JOE ALASKEY). When he demands more, Kate Houghton (JENNA ELFMAN), the VP of Comedy with Warner Bros., has him fired and orders security guard DJ Drake (BRENDAN FRASER) to escort the disgruntled duck from the lot.
When she then fires DJ for accidentally felling the famed WB water tower, little does she know the trouble she's created. Not only is Bugs upset that he's now the one getting shot by Elmer Fudd (voice of BILLY WEST), but DJ turns out to be the son of the studio's most important star, Damien Drake (TIMOTHY DALTON).
Things get more complicated when DJ learns that his father has been kidnapped by The Chairman (STEVE MARTIN), the nefarious head of the ACME Corporation. It turns out he wants to get his evil hands on the Blue Monkey diamond. The supernatural stone can turn humans into primates and then back again, something the Chairman figures will be good for business.
Thus, DJ heads off - with Daffy in tow - for Las Vegas to rescue his father. With Kate and Bugs in hot pursuit, they end up meeting Vegas showgirl and covert spy Dusty Tails (HEATHER LOCKLEAR), have a run-in with rootin' tootin' Yosemite Sam, and discover Mother (JOAN CUSACK) and her secret lab.
With The Chairman sending Wile E. Coyote, the Tasmanian Devil and Marvin the Martian (voice of ERIC GOLDBERG) after them and the Blue Monkey, the human and cartoon teams try to avoid them, prevent the stone from falling into The Chairman's hands and rescue DJ's dad.