Penny and Susie, and their families return to their favorite Florida resort a year after the first Walter and Mike adventure. The girls are excited to see their alligator friends in their new fun park pool. But the girls have a lesson to learn about borrowing things that don't belong to you without permission. At the same time Walter's sister alligator, Cecelia, learns a lesson about keeping things that others may have lost, and she learns what real treasure is.