Willy writes a storybook starring Bobo, his stuffed monkey, in order to act out his revenge fantasies on Earl, his cat, who retaliates by continually wrecking Willy's stories until the duo realize they both have something in common.
Willie finds all sorts of interesting things while he and Bobo are exploring, including a bucket that would be a perfect boat for Bobo, but before he knows it, Bobo and the "boat" have disappeared.