The TV turns on to reveal Disco Bear and Handy about to compete in a swimming race. Itchy sits on a chair as Mime brings a piece of cheese and a potato peeler on a plate. Unfortunately, Nutty fires his starting pistol and causes Itchy to flip out. Grabbing the potato peeler, he slices a piece of skin off Mime's rump. Upon realizing the danger he is in, Mime tries to escape through a window, which Itchy closes on him.
Mime manages to free himself, but by skinning his lower torso and legs. He pulls his skin, now resembling a pair of pants, out the window. The wound reveals Itchy about to finish the job, so he runs away. Seconds later, a butterfly lands on Itchy's hand and reverts him back to normal.
Meanwhile, Mime tries to put his skin back on and stumbles into a laundromat. He throws his skin into a washer, but it shrinks to the appearance of swim briefs. However, Mime sees Flaky on TV, about to compete at the swim competition, and gets another idea.
Sniffles, Cro-Marmot, Flaky and Mime later appear at the swimming pool for the next event. Itchy is seen sitting with the audience, raising a flag. As Mime gets ready to dive, he puts on his goggles, and Nutty fires his pistol which startles Itchy again. After a quick dive, Mime surfaces to find Itchy flipped out, with all of the audience massacred (except for Lammy whose legs are cut off).
Swimming to the other end of the pool, Mime cringes as Itchy pounces. However, Itchy bounces off Mime's "briefs", and onto a flag pole. Impaled, he painfully tries to climb back up to safety. Frantically trying to get Itchy down, Mime raises down the flag and ends up killing him. As Mime salutes, his skin briefs slide down his legs.