Scooter sends the little Muppet monsters to the basement. The trio finds equipment and starts broadcasting their own TV show.
Tug thinks they are doing a "Monsters of the Universe" show and introduces the show in a parody of Star Trek; however, Boo and Molly think it's time to do the cowboy show and come prepared in western attire.
The monsters are going through a trunk of hats they can use for their show - Tug and Molly find explorer's hats and decide to do an explorer show. Boo wants to be an explorer too, but there is no hat for him. He finds a magic hat and decides to explore the world of magic.