Reader Rabbit reluctantly joins his pal Sam the Lion who has entered his dilapidated sailboat in a race. With no rudder and a motley sail, the twosome quickly begin to trail the other racers. Sam suggests a shortcut, which leads them into unknown territory. As if that isn’t bad enough, a tremendous storm ensues, shipwrecking them on Pirate Island, and the boat parts collapsed. As the two begin to despair, Penelope the Parrot, an island inhabitant, comes to their aid. She encourages Sam to build a new boat, using parts that have been hidden around the island. Meanwhile, the Pirats fear that Sam and Reader are present to steal their cheese. They have a secret plan to keep our heroes from building their boat and leaving the island, and they will stop at nothing to ensure its success.