A penniless English soprano, Victoria Grant, auditions unsuccessfully for Labisse, owner of Cafe Luis. Toddy tries to help, but Labisse rejects her and fires him. Toddy befriends Victoria, and offers her shelter from the wet wintry night in his tiny apartment.Richard, the ex-boyfriend, arrives at Toddy's unexpectedly to collect his things. Victoria, her only dress having shrunk in the rain, is by now wearing his hat and suit. Victoria punches Richard and kicks him out. Toddy is impressed. Richard actually thought Victoria was a man! And at that moment The Inspired Idea strikes Toddy right between the eyes. Why not? Victoria could indeed be a man - Europe's greatest female impersonator!Toddy dreams up “Count Victor Grazinsky” - a gay Polish aristocrat. Toddy drags the reluctant Victoria to meet Andre Cassell, Paris's leading impresario, who is dubious about "Count Victor Grazinsky" until he hears "him" hit a glass-shattering high G-flat. "Victor" is in business.
His show-stopping performance at once makes him the toast of Gay Paree. The only doubter of Victor's authenticity is a dashing American gangster, King Marchan, visiting Paris with his brassy girlfriend Norma and his loyal bodyguard Squash. King is convinced Victor is a woman, and determined to prove it, but starts to doubt himself. He finds Victor attractive as a woman...but what if he's a man?
King, Norma and Squash find themselves in the adjoining hotel suite to the newly successful Toddy and “Victor”. Norma tries to seduce King, but he can’t get it up because of his worry that he is gay. Victoria bemoans to Toddy that in King she thinks she has finally found the man of her dreams, but here she is trying to convince him that she is a man, too!
“Victor” continues to take Paris audiences by storm. Norma complains to Victor and Toddy that King is shipping her back to Chicago because he fancies Victor - a man! King confronts his doubts about himself and Victor Is it possible that he, King, is falling for a man? He invites Victor and Toddy to dinner to try and find out. Labisse also has his suspicions that Victor is a woman. He invites her/him to sing. Richard's group arrives noisily in mid-song. Victor trips Richard and starts a major brawl in the club.. Outside the club, King says he doesn't care if Victor is a man, and kisses him. Victoria admits she's not a man. King says he still doesn't care, and kisses her again.
Back in the hotel, Squash barges into King's bedroom and finds King and “Victor” in bed together and stuns his boss by revealing that he, too, is gay!
Back in Chicago, Norma informs King's gangster partner, Sal Andretti, that King has dumped her for another man - and is living with "a gay Polish fairy." Sal is aghast and sets off for Paris with Norman in tow.
Toddy and Squash have become happy partners. Not so for King and Victoria, unable to be seen together in public. Victoria tells Toddy she doesn't want to be a man anymore. Toddy understands. Neither does he. Sal and the spurned Norma arrive in Paris. King admits he loves "Victor," keeping the secret. Sal, disgusted, ends their business relationship. Victoria reveals herself to Norma as a woman and is witnessed by Labisse. At Victor's “farewell performance” Labisse tries to expose him/her as a fraud. Toddy, thrilled to be back in drag, replaces Victoria in a blink. Victoria "comes out" as a woman, and is happy.
Not in the original production, but written for the film to replace "Louis Says".