Sewage workers Gordie Boggs and Sean Dawkins watch their favorite wrestler, WCW World Heavyweight Championship holder Jimmy King cheated out of the title by Diamond Dallas Page, an evil WCW promoter named Titus Sinclair, and DDP’s partners. After the match, the two wrestling fans humorously express their rage in their septic truck, resulting in a car crash with Gordie and Sean surviving.
After this event, Gordie believes that the car crash was supposed to happen and that they should make Jimmy King once again a title holder. Sean agrees to help Gordie, and the dimwitted duo go on a quest to put their King back on his throne. The next day, Gordie asks a friend to find out where the washed-up wrestler lives. Their friend succeeds, and they go to an unexpected-looking neighborhood. They find King’s estranged wife and his parents. The parents tell them that King borrowed their mobile home, and never returned it. The duo find King and become over-excited. They have a conversation, and when King says that he gives up on wrestling, Gordie and Sean anger him to the point where he suddenly attacks the two boys. The boys encourage King to beat them up, which influenced him to return to wrestling. Then Gordie and Sean are knocked out when Jimmy King does his finishing move.
The two boys wake up the next day when Jimmy King drips beer on their faces. Later that day, the trio go on a road trip. Gordie sends letters to his father, who wanted Gordie to follow in his footsteps to be a policeman, but Gordie says that he will not join him in a policeman test, making him frustrated. Gordie, King, and Sean go to the WCW arena where they hide King in a bathroom and they meet one of the Nitro Girls, Sasha. When DDP mocks Jimmy King on camera, King comes out of the bathroom and beats him up. Sinclair, therefore, declares a Steel Cage match for the WCW World Heavyweight Championship plus a $1,000,000 cash prize. However, if King loses, he will never wrestle again.
Sasha is impressed by Gordie, and they go to her apartment, where she reveals her “secret weapons” (she shows her breasts). Gordie reacts like a wrestling fan he is by screaming foreign objects and pushing her off of him. Jimmy King was in deep need of a trainer. They went to a local training center, where King meets his former partner, Bill Goldberg. They also find Sal Bandini, who beat up King. He was then hired as their trainer, but he became hospitalized when Sid Vicious and Perry Saturn attacked him that night.
When they try to get a new partner for King, Gordie’s father comes along, gets Gordie and convinces him that his dream of working with Jimmy King was stupid. When Gordie was at home, Sean and King tried to bust him out, but Gordie refused (an ironic change in Gordie as he once encouraged King to return to wrestling). But the next day, Gordie comes at an entourage audition and is thanked by King for everything Gordie did for him. No one, however, was able to make the cut, and so King has to face DDP alone. When the Steel Cage Match started, he is again outnumbered by DDP’s goons, but receives help from Goldberg, Booker T, Billy Kidman, the Disco Inferno, Sting, and of course Gordie (in a police uniform). After this, Titus was beaten up by Sean and Gordie (as well as by the fans). Goldberg later asks King to re-team with him, but the new champ announces his new partner will be Gordie and their manager will be Sean.
An epilogue shows Sean telling kids “dreams can come true” back at the convenience store, where Gordie and Goldberg teach the clerk a lesson by hurling him out on the street for being mean to kids. All ends happily as the heroes ride off in a stretch Hummer (driven by Nitro Girl Chae), together with Sal, now fully recovered in a hot tub with beautiful women.