Frustrated with having traded his cow for the three beans, Daffy tosses them away and they land in Bugs Bunny's rabbit hole. A beanstalk erupts shortly after, and Daffy decides to climb it for the sake of the cartoon ("Well, I'd better get to work climbing that thing, or we won't have any picture"). On the way up, he comes across Bugs, who is asleep in his bed which is stuck in the beanstalk. Bugs awakens and sees Daffy, but Daffy kicks him away. Realizing which story is unfolding before him, Bugs decides that there will be a rabbit in "this" version of it and begins climbing after Daffy.