Travelling through the West right after the Civil War, two con men hatch a scheme to try to collect the fifteen thousand dollar bounty offered for the capture of an outlaw.

Ass-breaker Dingus Magee is looking for a gold train when he comes upon old acquaintance Hoke Birdsill on stage to San Francisco, and robs him of his money. Hoke goes to the nearby town of Yerkey's Hole, where Belle Knops is both mayor and bordello-mistress. She appoints Hoke Town Sheriff and tries to get him to stir up the Indians so the soldiers at the nearby fort (the main customers) won't go to Little Big Horn. Dingus tries to stir up more trouble and get involved with the pale, baby-talking Indian, Anna. The film is a send-up of the oft-repeated phrase "the Code of the West" and exaggerates it and what it stands for into the ridiculousness that it is.

A con artist arrives in a mining town controlled by two competing companies. Both companies think he's a famous gunfighter and try to hire him to drive the other out of town.