Basé sur l'autobiographie de Gypsy Rose Lee, ce film fait pour la télévision - auparavant un succès à Broadway et un film de 1962 - décrit la vie et l'époque d'une strip-teaseuse et de sa mère dominatrice.
Sally (Marilyn Miller) plays the part of an orphan who had been abandoned as a baby at the Bowling Green telephone exchange. While growing up in an orphanage, she discovered the joy of dancing. In an attempt to save money enough to become a dancer, Sally began working at odd jobs. While working as a waitress, a man named Blair (Alexander Gray) begins coming to her work regularly to see her. They both soon fall for each other.
Chick Evans is a Marine private in Honolulu, Hawaii. He falls for society girl Delphine Witherspoon, and begins to scheme as to how to win her over. His first plan involves impersonating an officer in order to get invited to a society party. However, when his Marine buddies decide to crash the party as well, his real rank is revealed, and so having the opposite effect on Delphine as he had planned.
Jim Smith (Lucien Littlefield), a millionaire due to his Bible publishing business, is married to the overly frugal Sue (Louise Fazenda). They desire to teach their ward Nanette (Bernice Claire), who has an untapped wild side, wants to have some fun in Atlantic City, and is being pursued by Tom Trainor (Alexander Gray), to be a respectable young lady.
Le film est inspiré de la pièce de Kurt Weill et Bertolt Brecht, L'Opéra de quat'sous ; l'histoire a néanmoins été simplifiée (disparition du personnage de Lucy ; Mackie n'est arrêté et ne s'évade qu'une fois) et rendue plus réaliste (le dénouement en particulier).
Un jeune concepteur de vitrines pour le compte d'un grand magasin est curieusement attiré par un mannequin qui fait partie du décor. Une nuit, sans réfléchir, il l'embrasse et d'un coup le mannequin naît à la vie. Il s'avère qu'elle n'est autre que Vénus, la déesse de l'Amour.