During the trapeze act, the aerialist Louise Trapeze fell to her death. On examination, it was discovered that she had been shot. FBI agent Ennen was dispatched from Washington to help with the investigation.
The ringmaster, Ringo, revealed that the circus had been getting death threats. Seeing the police and FBI, Mr. Pops pulled a gun on the authorities. He revealed that Ringo had been blackmailing many of the performers who had a shady past. Several of them had joined together to eliminate Ringo. Barb Els, the circus strong woman, had shot the trapeze artist as the first step in their plan.
Tracy and Ennen were forced at gunpoint into a cage, where Mr. Pops released a tiger to kill them. However, the circus strongman/giant Fee Fi reached through the bars and grabbed the tiger's tail and held it until Tracy and Ennen can escape through the top of the cage by a trapeze lowered to them by the circus fat lady, Della Contessa.
Meanwhile Mr. Pops had left to call the police. He planned to frame Ringo for the death of Tracy and the FBI agent. He was surprised by Tracy, who placed him and Els under arrest.