Rocky and Bullwinkle create superhero alter egos Amazamoose and Squirrel Wonder and set out on an adventure to save Frostbite Frannie - and summer vacation!

When a mysterious goop gives Fearless Leader real life superpowers, Rocky and Bullwinkle must reprise their masked hero personas to take on super powered "Fearless Laser" and stop him from lasering his face on the moon!

The mystery goop strikes again when Rocky's stress ball falls into a vat of goop, making it sentient and gigantic! Rocky and Bullwinkle use the goop to give super powers to themselves to try and stop the ball, but when they fail, they recruit the actor that plays their favorite TV hero, Captain Great Guy, and give him goop super powers as well.