The film, set during the Russian Civil War of 1917–1923, continues the story of the "Elusive Avengers", a posse of young Red partisans, including Valerka, a former schoolboy; Yashka, a devil-may-care gypsy; and two orphan siblings, Danka and his sister Ksanka. They join the Red Army and fight Baron Wrangel's White Guards. They intercept an airplane carrying a letter to the Baron. The letter reveals that a map of fortifications in Crimea is in possession of the White counter-intelligence officer, Colonel Kudasov. This map is vital for the Red Army assault, and the Avengers are sent on a secret mission to steal the map.
They enter Yalta on a fishing boat and disguise themselves. Danka assumes the guise of a shoe-cleaner, and Valerka fashions himself as a young monarchist nobleman. Meanwhile, the Red agent they were sent to is arrested by Kudasov and killed when he tries to escape, leaving the Avengers on their own.
Ksanka meets Buba Kastorsky, a popular singer and dancer who helped the Avengers in the first film. Buba tells them about a White officer who probably knows the combination for Kudasov's safe. Valerka visits the cabaret often frequented by this officer, Captain Ovechkin, and befriends him. But Danka is arrested, because Ataman Burnash comes to the city and recognizes him. Yashka meets the local Gypsies and persuades them to help freeing Danka.
Then Captain Ovechkin recognizes Valerka for what he is, gloats at him and tells him the combination, intending to arrest him immediately, but Valerka detonates a pool-ball filled with explosives and escapes. He dashes to the Counterintelligence Service headquarters, infiltrates it and steals the map. Soldiers surround the headquarters, but Danka, Yashka and Ksanka distract the soldiers and let Valerka escape with the map. The Avengers, along with Buba, flee the city, but a White officer shoots Buba when they are already escaping on a boat.
