Act one introduces the two main characters, Honkers the clown and Einstein the clownfish. An audience within the setting is also present. Honkers and Einstein, both partners in a performance, are set to debut their fantastic act. The audience sees that Einstein is unhappy and not receiving the recognition he feels he deserves for his part in the performance. He decides to ruin the clown's chances at fame and success by refusing to perform.
Act two sees the response of Honkers to the lack of performing done by his partner. In an attempt to salvage the performance he resorts to clown tricks all of which fail. Einstein decides to upstage the clown and do his trick revealing his dark intentions. The clown's greed gets the better of him and takes credit for the performance.
In the final act Einstein's intentions are made clear as he burns the set and tent to a crisp. Honkers, dazed and confused, faints as Einstein swims around satisfied with his work.