Born a fully grown black man in a village in the Brazilian jungle, Macunaíma later magically transforms into a white man before making an adventure-filled trip to the city of São Paulo. Once there, he becomes something of a dandy, falling in love with Ci, a revolutionary who dies in an accidental bombing. After robbing a ruthless industrialist, Macunaima returns to his village where he finds his newly acquired knowledge and possessions of little use.

Tadeu, a poor lad from the Northeast of Brazil, comes to Rio de Janeiro to try his luck. His good looks and education win him the favor of rich people. In his spare time, he becomes the favorite among lonely and rich ladies. Soon he gets involved in trouble.