Bumbling professor Ned Brainard accidentally invents flying rubber, or "Flubber", an incredible material that gains energy every time it strikes a hard surface. It allows for the invention of shoes that can allow jumps of amazing heights and enables a modified Model-T to fly. Unfortunately, no one is interested in the material except for Alonzo Hawk, a corrupt businessman who wants to steal the material for himself.
Peter Ustinov stars as the eponymous wraith, who returns to Earth to aid his descendant, elderly Elsa Lanchester (Stowecroft). The villains want to kick Lanchester and her friends out of their group home so that they can build a crooked casino. Good guy Steve Walker (Jones) gets caught in the middle of the squabble after evoking Blackbeard's ghost.
The living Volkswagen Beetle helps an old lady protect her home from a corrupt developer.
Texas Ranger Jake Cutter arrests gambler Paul Regret, but soon finds himself teamed with his prisoner in an undercover effort to defeat a band of renegade arms merchants and thieves known as Comancheros.
Sam and George strike gold in Alaska. George sends Sam to Seattle to bring George's fiancé back to Alaska. Sam finds she is already married, and returns instead with Angel. Sam, after trying to get George and Angel together, finally romances Angel, who, in the meantime, is busy fighting off the advances of George's younger brother, Billy.