Piker's Peak.In the Swiss Alps, when the mayor announces a competition with a prize of "50,000 kronkites" to the one who can climb the Schmatterhorn first, Yosemite Sam quickly volunteers. When he starts climbing, Bugs Bunny emerges from a rabbit hole on the mountain, hearing a band playing the send-off tune and a crowd cheering. He inquires about the sounds, to which Sam brags about his dare and the prize. Bugs decides he wants in, and climbs up the mountain an easier way than Sam. Realising that Bugs now plans on winning, Sam tries to pull him back down ("Get down, ya long-eared mountain goat!") In the process, he causes Bugs to pull down a boulder, which chases Sam back down the mountain and crushes him. Sam climbs back up and pretends to form a partnership with Bugs. He climbs up with a rope tied to him, and another rope tied to Bugs, which he throws up to Sam. Bugs then shouts his "What's up, doc?" catchphrase, to which Sam replies "Not what's up, what's down!" revealing that he has double-crossed Bugs, tied his rope to another boulder and is about to push it over. However, it turns out that the rope around the rock is also tied to Sam! Despite his attempts to free himself with a Swiss army knife, he is pulled to the bottom of the mountain with the rock. As he prepares to try again, the band and crowd also sound again...