The Two Senoritas from Chicago are Gloria (Jinx Falkenburg) and Maria (Ann Savage). When their goofy pal Daisy Baker (Joan Davis) passes off a discarded Portuguese play manuscript as her own, producer Rupert Shannon (Emory Parnell) agrees to bankroll the production. With stars in their eyes, Gloria and Maria pretend to be a pair of Portuguese musical comedy stars, thereby winning parts in the new production. The fun begins when the play's original authors sell the same manuscript to a rival producer.