New York City tenement dwelling neighbors Blondie and Lottie are longtime best friends. When Lottie makes the cast of the Follies and moves up in the world, she arranges for Blondie, as well, to join the cast and gain the advantages. But the friendship goes awry when Lottie's sweetheart, wealthy Larry Belmont, falls for Blondie and she for him.

A New York policeman helps a hungry and penniless young woman start life anew by arranging to get her a job in "The Follies".

A crew of young military-school cadets are enjoying their first weekend in Paris. Frank Harrington, a girl-shy cadet, wins the lottery which "They" have organized, an Frank wins the right to woo the star of the Folies Bergere, Gaby Aimee, with her garter serving as proof of conquest. Meanwhile Frank has found the one girl-of-his-heart, Patty, and this serves to complicate matters.

The Follies of M tells the story of the Provincial Parish of M, famed for it's quantity and variety of architectural follies and introduces the misshapen residents who indulged in suck reckless construction projects.