Finian McLonergan and his daughter Sharon arrive in Rainbow Valley, Missitucky with a pot of gold from Ireland which rightfully belongs to Og, the leprechaun. Finian aims to plant it near Fort Knox in the hope that its value will multiply. Senator Billboard Rawkins threatens the local sharecroppers with the takeover of their land.

Local hero Woody returns with tax money to hold back Rawkins. Finian also assists with money from the pot and attains rights to the land. Sharon and Woody fall in love. Og the leprechaun wants his pot of gold returned.

When Rawkins hears of gold, he tries to find it and manhandles a black sharecropper. Sharon makes a wish over the pot, causing Rawkins to go into hiding, as he has turned black to give him a taste of his own bigotry.

Woody starts to purchase supplies for the people but Og will become mortal without his gold. As he searches, he sees Sharon, with whom he immediately falls in love. Then he sees Susan the Silent, and falls even harder for her. Fearful that Sharon will be tried as a witch if Rawkins is not found, he makes a wish when he discovers that Susan is sitting on top of the pot.

As his three wishes come to an end, Og becomes mortal and Susan can now speak. Sharon can be with Woody, and Rawkins becomes white again.

Finian, as he “looks to the rainbow”, moves on to another valley to follow a new dream.

Director: Michael McKay

Musical Director; Robert Van Dine

Choreographer: Judy Hayes