Professor Harry Bechmeyer (Barry Otto) goes searching for a rare breed of werewolf/marsupial in this satirical horror comedy. With his sidekick Professor Sharpe (Ralph Cotterill), they find Jerboa (Imogen Annesley), and take her to Sydney to appear in a small role in a horror film. Soon members of her tribe disguised as nuns try and rescue the she-werewolf. Olga Gorki (Dasha Blahova) changes into a lupine monster as she pirouettes on the stage of the Sydney Opera House. The feature works as a parody of its two predecessors.