A thousand years ago, the Leprechaun left a bloody trail when he ripped through the countryside in search of his stolen gold. Now he's back in the big city using all of his deadly tricks to snare the girl of his nightmares. His bloody quest becomes more deadly when her boyfriend steals one of the Leprechaun's gold coins. The town soon discovers two dead bodies and a trail of gold dust leads them to the Leprechaun's lair.

After she's caught sleeping with the ranch hand, Cheyenne (Bobbie Phillips) shoots her good-for-nothing husband and takes off with his money. Her hubbie doesn't want to part with her, however, and now the feisty Cheyenne has not one, but two bounty hunters on her tail. Jeremiah (Gary Hudson) may think that he's the best bounty hunter on the frontier, but Haddox (M.C. Hammer) and his evil dwarf Razor (Bobby Bell) have their minds set on bringing Cheyenne in, even if they have to take out Jeremiah just to get to her.