Timon and Pumbaa are looking at a billboard with a picture of El Toro on it, saying that he's the bravest bull of all of Spain. Timon tells Pumbaa that he's three times as brave as El Toro, and he grabs his suitcase and dresses as a matador, using a red pajama as a cape. Pumbaa dresses as a bull and the two friends decide to act like they are bullfighting. Timon tells Pumbaa to go really, really far. After Pumbaa is far enough to start running, the warthog accidentally sits on a cactus and runs very fast, and runs over Timon several times.
Two bull catchers named Carlos and Consuelo Quint see Pumbaa running fast, mistaking him for a bull. The men catch Pumbaa and take him to the bullfighting arena. In a room at the arena, the Quints decide to fire El Toro and replace him with Pumbaa. El Toro is angered by this and he refuses to leave without a fight. He states to Pumbaa that he shall return. Meanwhile, Timon is at the billboard wondering where Pumbaa is. A truck stops by and the owner places a flier over the El Toro flier. Timon sees his friend in the picture, which states that he is the new bravest bull of all of Spain.
Timon goes to the stadium to look for Pumbaa. When he gets in the makeup room, he finds his friend hiding in a vase, trying to avoid the fight. Pumbaa also tells Timon that he is unable to take off his bull costume and tell everyone that he's a warthog due to the zipper being stuck. After Timon releases the vase from Pumbaa, the two make a plan to escape the arena. Timon and Pumbaa decide to sneak out the backdoor, but when they open it, they see that the stadium is filled with people waiting to see a bullfight. Timon closes the door and washes his hands as he tries to think of another escape plan until he notices a red towel. Pumbaa assumes that Timon's idea is using the red towel as a cape and go out and act as a matador while the warthog acts like a bull, and after they make a couple of harmless charges and everyone is cheering, they make their escape. But Timon thinks that he's going to get some pixie dust out of the towel so they can "soar into the heavens," but Pumbaa finds his own idea of what his friend was thinking to be better.
Timon, now dressed as a matador again, is at the arena while Pumbaa seems to be too nervous to go outside. El Toro returns getting ready to fight, but before he does so, he suggests that he should do something with Pumbaa, which is trapping the warthog in a toilet. Meanwhile, Timon does stand-up comedy as he waits for Pumbaa to arrive, but El Toro shows up instead and starts fighting the meerkat. Pumbaa gets out of the toilet and goes to save Timon. After the fights Timon had with El Toro, Pumbaa shows up to save the meerkat, and Timon realizes that it was El Toro he was fighting, not Pumbaa. Timon and Pumbaa try to run away from El Toro, but they get to a dead with no escape from the bull.
When Pumbaa tries to convince Timon about his bravery and fight El Toro, Timon decides to save himself and his friend. The meerkat performs a flamenco while he and Pumbaa battle El Toro and the duo defeats him by putting him in the toilet. This makes the audience praise the two friends for their actions.
Timon and Pumbaa: True Guts
The title is a pun of the song The Rain in Spain from the musical My Fair Lady.