Chris, a young man from the country, dreams of a big career as an escape-artist. He wants to become famous like his idol, Harry Houdini. He meets Mischa, an expert in the art of living, who feels himself called upon to support Chris in attaining fame and an international career. Chris is very much attracted to Nada. Mischa's sister wants to break away from the Yugoslav workers' milieu. A spectacular performance is planned by Mischa and his friends to draw the medias' attention to Chris. Tied up in his strait-jacket, Chris wants to jump into the Danube and free himself under water. But neither newspaper journalists nor the TV turn up. Nevertheless Chris jumps into the water and frees himself. He wins Nada's love and restores his self-confidence. Malambo is a comedy, which portrays the dream world of an endearing community of friends, who are building 'castles of air' for themselves, in search for a better life.

Ein junger Fantast glaubt, er könne es dem großen Entfesselungskünstler Houdini gleichtun. Bei seinen Versuchen scheitert er kläglich, kommt jedoch zu der Erkenntnis, dass er die Illusion vom Erfolg nicht mehr braucht. Die fantasievolle, von originellen Personen bevölkerte Geschichte ist von liebenswürdiger Menschlichkeit und köstlichem Humor geprägt und erreicht zuweilen den Rang echter Bildpoesie.