Elaine is throwing a party to impress her art gallery crowd. Fearful that the rest of the gang from the cab company won't fit in, she only invites Alex, but relents when she sees that the other guys are hurt by this.
The people from the art gallery don't know that she's a part time cabbie and she wishes to keep that a secret, so she asks that everyone not blow her cover by admitting how they know her or that they're cabbies either. The gang gets bored quickly at the party full of pretentious art snobs, with the exception of Alex and Latka. Alex made a sensation by telling people that he fights oil fires for a living and Latka is seen leaving with a female partygoer.
All is going well for Elaine until a man who has insulted Elaine in her cab at the beginning of the episode shows up. Although he doesn't recognize her, she decides to blow her cover by telling him off.
The party ends and Elaine is relieved not to have to put on a charade anymore, but Alex is still sulking. Alex was annoyed at Elaine for exposing him as he was gaining the attention of a blond art enthusiast.
Finally, Elaine tells him that he's her best friend and they hug.