When, sailor Dinty Doyle happens upon an island of leprechauns, he accidentally unearths a wicked banshee. The caterwauling banshee wants the leprechauns' gold, and she always manages to trick an innocent little person into giving her the pot of gold at the end of the rainbow. This time the banshee dupes Dinty into revealing the location of the treasure. But as the she reaches her hands into gold, Christmas morning dawns ... The banshee is too late. Her spirit washes out to sea, and Dinty's ship returns all the leprechauns to Ireland, with their gold.
