A giant panda sets his heart on becoming a professional dancer.
A giant panda named Pancada works at a boxing club. He has dreams of one day becoming a professional dancer, and is in love with a waitress named Beth. His boss, a polar bear named Polaris, is scheduled to fight a large bear named Freak Teddy. Pancada visits his dancing instructor, Master Xin, who teaches him about loyalty. The following day, Polaris has found a black costume, and tells Pancada to wash it for him. The costume shrinks in the wash, resulting in Polaris having the appearance of a panda bear. As Polaris begins the fight with Freak Teddy, Pancada goes to a dance competition, wherein he ends up winning. Polaris wins the match against Freak Teddy, and because of his panda-like appearance, the club's patrons mistakenly congratulate Pancada for being a powerful fighter. Pancada, having won the dance competition, erroneously believes that he is being congratulated for his dancing skills. Before Polaris leaves for a vacation, Pancada himself enters the ring to fight Freak Teddy and loses. Polaris informs Pancada that he had made a bet that Pancada would lose the fight, and therefore, he becomes wealthy. After Polaris heads off for the icy mountains, Pancada transforms the boxing club into a dance club.
Pancada, a giant panda, is employed as a janitor at Bear Bar Box, a boxing karate club in a small town where anthropomorphic bears live. He is in love with a brown bear waitress named Honey and hopes to become a professional dancer someday, even though everyone is uninterested. His club is losing money, primarily because his best boxer, Freak Teddy, wins every fight, according to his boss, Polaris, a polar bear. Polaris wants to enter and beat Teddy himself, but Grizzlepuss, the property manager, tells him he is bound by a contract not to.
The following evening, Pancada goes to see Master Jin, his dancing teacher, a little brown bear who teaches him the value of loyalty. The next day, Pancada is instructed to wash Polaris's old combat outfit, which consists of a black top, bottom, and face mask. Pancada tries to remain composed as he leaves after Polaris explains his scheme to fight Freak Teddy in disguise. The costume shrinks in the washing machine because Pancada gets sidetracked by the rhythm of the machine in the basement restroom.
Pancada attends a dance competition on the day of the fight, while Freak Teddy and a disguised Polaris square off in the ring. The costume Polaris is wearing shrinks on him during the fight, making him resemble a Panda Bear. Polaris is therefore mistaken for Pancada by Grizzlepuss and Honey. Pancada triumphs in the dance competition despite severe criticism, while Polaris prevails in the fight.
The day after that, Pancada's crush, Honey, approaches him. Pancada receives a cheek kiss from Honey, who is impressed by his "win." Pancada thinks he is being commended for his dancing abilities, but this is not true. But Pancada learns later that he was misidentified as Polaris when a newspaper shows up at the club. He goes to Polaris in his office after Master Jin gives him some advice because he wants to rematch Freak Teddy so that he can receive more credit. After a brief period of training, Pancada gives up boxing after his bout with Freak Teddy goes poorly.
Following the altercation, Pancada is once more made fun of and goes to Polaris' office to tell him of the defeat. However, Polaris tells Pancada that he became extremely rich by placing a wager that the latter would lose the battle. Polaris gives Pancada ownership of the club prior to his departure. At last, Grizzlepuss confronts Pancada about the plan, but the panda merely denies it.
Pancada converts the boxing club into a dance club after Polaris withdraws to the frozen mountains.
