Mr. Magoo plays well-to-do nobleman Don Quixote, who is appalled that there are no more knights in the world. Seeing that a hero is needed in the world again, he dons a rusty suit of armor and asks a simple-minded but loyal farmer named Sancho Panza to be his aide de camp. The two ride through the countryside to try and right wrongs...but all they accomplish is creating havoc at every turn.