Big and Red are conmen and lovers a bit down on their luck when they learn of an easy mark, a rich old woman who lives alone in the woods. Hoping to ingratiate themselves by pretending Red is her long lost granddaughter (complete with red dress and basket of baked goods), they set out over the river and through the woods, even if Red is a bit hesitant about the cross-dressing.
When they aren't the only ones trying to cash in, their plans have to change. Jack, a trickster himself, is already on the scene, and is very good at making both Big and Red rather hot and bothered. And when it turns out the little old woman is running a con of her own, all bets are off, and the fur -- and clothing -- will fly as everyone scrambles to survive.