Iron Monkey is a Hong Kong variation of Robin Hood. Corrupt officials of a Chinese village are robbed by a masked bandit known as "Iron Monkey", named after a benevolent deity. When all else fails, the Governor forces a traveling physician into finding the bandit.

Mainland Chinese 'Super Cop' Hwang Fri (Yu Rong Guong) is sent to Hong Kong to assist Scotland Yard trained James Fok (Michael Wong) in this surreal comedy.