Fellini exposes his great attraction for the clowns and the world of the circus first recalling a childhood experience when the circus arrives nearby his home. Then he joins his crew and travel from Italy to Paris chasing the last greatest European clowns still live in these countries. He also meets Anita Ekberg trying to buy a panther in a circus.
Charlie, a very gifted, young acrobat, cannot find employment. A dancer and colleague, whom he trained, has gotten him a job as a stagehand at a vaudeville theatre. After a number of chaotic events and some highs and lows - none of which ever discourage him - his hour arrives: an act can't go on and "Akrobat schööön" can finally make his grand entrance.