Miss Red is being blackmailed. When she asks Sherlock Holmes for help, he connects her case to a series of jewel thefts and tells his assistant Jerry the Mouse to work with Red's butler Tom the Cat for the duration of this case.

Lola Bunny invents a perfume with the adverse effect of turning people invisible, sending her and cab driver Bugs Bunny on the run from the FBI, while another shady group seeks the formula.