Daffy Duck and Speedy Gonzales are out exploring when they stumble upon a treasure map. Excited by the prospect of finding treasure, they set out on the adventure of a lifetime. After a perilous journey, they finally arrive at the location indicated on the map, only to find a wishing well.
Despite initial skepticism, they soon discover that the well is indeed magical and can grant wishes for just a penny. Daffy is quick to seize the opportunity and decides to set up a luxurious resort around the well, inviting all of the Looney Tunes characters to come and have their dreams come true.
One by one, the characters begin to arrive, each with their own unique wish that they hope the well can grant. Sylvester wants to catch Tweety, Foghorn Leghorn wants to win a chicken beauty pageant, and Bugs Bunny wants to become a superhero.
As more and more wishes are granted, the resort becomes a huge success, making Daffy rich and famous. However, trouble soon begins to brew when Yosemite Sam and the Tasmanian Devil arrive, determined to find the varmints who stole their treasure map.
As chaos ensues, Daffy and his friends must use all their wits and tricks to outsmart the two villains and keep their beloved resort safe. In the end, everyone learns valuable lessons about greed, friendship, and the true meaning of happiness.