As the episode opens, Ricky is in the Ricardos' living room practicing a speech for a banquet at Club Babalu, during which he will present a loving cup to Johnny Longden, the "Winningest Jockey of All Time". Ethel walks in and commends Ricky on his speech. Ricky tells her that Lucy went shopping, and that he told her to buy a new hat and dress for the banquet. Ethel asks him to repeat himself, because, as she says, "In the twenty five years I've been married, I have never heard that phrase before." Right on cue, Fred comes in and looks at the cup, lamenting that he hadn't bet on any of Longden's 4,961 victories. Lucy then comes in with her purchases, and shows her dress to Ethel. She proceeds to show them her hat, which Ethel says is adorable, but Ricky describes as a "fuzzy fish bowl", and refuses to let her wear to the banquet, saying she could wear the cup on her head and it wouldn't look as funny.
Little Ricky then comes in and runs off with the cup, to use as a home for his turtle. After Lucy goes to retrieve the it from Little Ricky, she comes back in with the cup on her head. When Ricky and Fred leave, she discovers that she can't get it off. Lucy and Ethel try to think of a solution; they reject Ethel's idea to put Lucy's head in the oven, and finally settle on the suggestion to have a silversmith take it off. Ethel calls the silversmith, who says that they will have to go down to his shop. They decide to go via the subway because they don't have much time before the banquet. Ethel leaves to change out of her blue jeans before they go, and Lucy attempts to change into her new dress, but can't get the one she's wearing over the loving cup. Ethel tells her she can bring her new dress along with her.
The next scene opens with Lucy and Ethel on the subway, with Lucy wearing a hat on top of the loving cup, and a veil over the hat, covering her whole head. The other passengers begin to stare, and Ethel asks one man, "What are you staring at, haven't you ever seen a beekeeper on a subway before?" At the next stop, Ethel tries to lead Lucy off the subway, but they get separated, and Lucy is pushed back onto the subway by the throng of people. At another stop, the same thing happens. By now, the hat and veil have fallen off. Lucy finally makes it off the subway, and asks a man "Can you tell me where I am?" to which he responds, "Yeah, you're on Earth!". A woman tells Lucy she is in Brooklyn, and then goes to get a policeman. When they come back, Lucy inadvertantly insults him, saying "Oh good grief no, don't get a policeman! You know how nosy they are, always asking those foolish questions!"
The next scene begins with Ricky introducing Johnny and Hazel Longden at the banquet, and stalling for time until the loving cup arrives. The policeman brings Lucy in with the cup on her head, and Ricky, embarrassed, asks Lucy to bend over so he can read the inscription. Johnny thanks Ricky for the honor and the cup, saying "I'm sure it will look good in my trophy collection, but what am I going to do with your wife?" Ricky responds, "Well, Johnny, that's been my problem for fifteen years, now it's yours!" After Johnny and Ricky take a picture with the cup, the episode ends.