The Stooges are separate characters in this short. Larry is a womanizer who is having an affair with Moe's wife. At the same time, he is also making eyes at Shemp's fiancee, Millie (Angela Stevens), as well. Moe, however, tracks down the conniving Larry at his pet shop, and gives him the works. Larry is able to think fast and convinces Moe he's innocent, which calms him down. Realizing he needs to cover his tracks, Larry looks for a "fall guy" in the form of Shemp. Larry then gets Shemp a job as an underwear salesman and the first place he goes is Moe's home.
While Shemp is modeling his ware for Moe's wife, Larry calls both Millie and Moe and lies to them about Shemp's advances on Moe's wife. Both of them go storming over to Moe's, with Moe carrying a loaded gun. Looking to avoid being killed, Shemp flees up the chimney. After he fools Moe with a Santa Claus disguise, Shemp makes a quick getaway. Shemp then spies Larry coming. Now aware that Larry set him up, Shemp knocks Larry out and dresses him in the Santa outfit and sends him to Moe, Millie and Moe's wife. Moe unmasks Larry to the surprise of them all and chases him out of the apartment. Moe shoots Larry in the rear a few times before accidentally shooting himself in the foot while celebrating.