This cartoon features Waldo and Pressley, the latter a take off on W.C. Fields. Pressley finds a book written by Davey Jones (not the Monkees one, the nautical one). Soon he enlists Waldo to help him find Davey Jones' locker. Pressley goes down in a bathysphere while Waldo is forced to don SCUBA gear and risk his life going after the locker. He encounters a "hammer headed shark" he has a head like a claw hammer. He encounters a swordfish and an electric eel. Soon an octopus and a whale get into play, causing a ruckus. They finally find the locker, which produces an interesting conclusion. The animation is really colorful in these Magoo pieces and this is no exception.
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