A schooner anchors at the South Pole, and the skipper goes ashore and leaves the ship's mascot, a St. Bernard dog, to stand watch and guard the ship. A small penguin, Chilly Willy (the only penguin not equipped for cold weather...anywhere), sees the ship and tries to get warm by its stove. The watchdog attempts to get rid of him, but Willy manages to get the dog drunk from the rum in its own cask. The captain returns to find Willy saving the ship from sinking, while the dog is found sleeping it off. Willy is made mascot and the dog is tossed in the ship's brig.
Chilly Willy is freezing in his igloo home (he lives in Coldernell, Alaska) and burning everything he owns in the fireplace to keep warm. He notices an ad for the local fur factory and realizes that warmth is only a visit away. Unfortunately, it is guarded by a rather unexcitable watchdog who foils Chilly's attempts to steal the furs. Finally, he locks every fur in the storage bin but this doesn't stop Chilly who starts eyeing the watchdog's fur and makes various attempts to remove it from him.
Smedley, manager of the "Snowtel" where Chilly Willy is visiting, notices Chilly has not paid his bill. When Chilly still refuses to pay, Smedley tries various methods of evicting him but all his attempts are thwarted either by Chilly or his own ineptitude. Eventually, the scenario culminates in Smedley chasing Chilly outside with Chilly tricking him into running into a whale's mouth. Finally, Chilly believes Smedley to be gone and returns to the "Snowtel"...only to find Smedley in bed next to him and still asking, "How 'bout this bill, Boy?"
Smedley is the manager of Balancing Rock Canyon where various boulders are perched atop high poles. As Smedley explains, the slightest noise is enough to send the rocks tumbling ("You gotta be quieter than a goldfish in a sound-proof aquarium") so it's hardly a surprise that he panics when Chilly Willy arrives selling various loud noisemakers among them firecrackers, a "boomerang brick", a joy buzzer, novelty gun, and exploding telephone. Eventually, the rocks fall landing Smedley in the hospital where Chilly arrives to sell one last noisemaker to "cheer him up" with.
Forest ranger Clyde is given an order to make sure the park bears are not disturbed from their winter hibernation. He inspects their cave and finds Chilly Willy trying to sleep among them. He hollers at Chilly not to wake them up, waking one bear up himself. He sends the sleepwalking bear back to bed but it isn't that simple. The bear continues to sleepwalk going on a wild ride through the woods after Chilly gets him to put some skis on. The bear finally stops... and is now sleeping in Clyde's bed. Clyde returns to the cave where all the bears are now sleepwalking and Chilly is giving each one a lit dynamite stick!
A hungry Chilly Willy notices the good food the mounties get and enrolls for the job. Unfortunately, his enrollment photo is placed over a wanted poster for criminal Caribou Lou and officer Smedley presumes Chilly is Lou and gives chase. Often, Smedley ends up asking the real Caribou Lou for directions (with Lou always explaining, "Him go that-a-way."). Smedley chases Chilly to a buffalo crossing where he is chased by the inevitable buffalo herd. After eluding Smedley long enough to capture the real Caribou Lou, Chilly is deemed an honorary Mountie replacing Smedley to whom Chilly tosses a chicken bone.
Smedley is guarding his master's estate when he receives a package in the mail containing Chilly Willy. Chilly immediately sets his sights on devouring the master's stuffed barracuda which Smedley does everything in his power to prevent. Chilly eventually grinds the marlin into little pieces which Smedley tries to reconstruct before the master returns. While Smedley does succeed in piecing the marlin back together several times, Chilly strikes again until the marlin is once again in pieces and Smedley is forced to takes its place over the fireplace with his master none the wiser.
Chilly Willy goes deep sea fishing coming up with an old shoe which he proceeds to cook. Smedley explains normally he would be stealing fish from his salmon cannery but the salmon aren't running... until now. As Smedley gets to work catching and canning fish, Chilly gets to work stealing it despite Smedley's efforts to keep the pest out. Eventually, Smedley swallows a magnet Chilly was using and has a narrow escape with a meat cleaver. He throws the magnet to the ocean's bottom but, alas, the magnet attracts all the cans of salmon which go with it. So Smedley and Chilly decide to go with the shoe.
In order to afford money to eat Smedley's flapjacks, Chilly Willy tries various jobs that don't go well for him. When Chilly Willy discovers that Smedley has to make 200 flapjacks for a tough lumberjack, Chilly Willy ends up pillaging some of them getting Smedley into trouble until Chilly Willy drives the lumberjack away.