Woody Woodpecker (Ben Hardaway) and Andy Panda (Walter Tetley) are two starving musicians who, with a mouse, are sitting in their office without food or work. They read in the newspaper that there is a banquet going on in town at Mrs. Van Glutton's mansion, and she has asked for the musicians in town to come entertain the guests. The three soon arrive at the mansion, and Woody and Andy begin playing their instruments with the others (before the three start consuming copius amounts of food), but quickly try the patience of snooty butler Wally Walrus (Paul Frees) who is none too thrilled with their antics. Eventually, Woody starts an enormous food fight with Wally caught in the middle. Blaming Andy and the mouse as well as Woody for all of the chaos, an enraged Wally beings chasing all three away with a shotgun.
Banquet Busters features the only appearance by Andy Panda in the Woody Woodpecker theatrical series. Andy and Woody also appeared together in three other films, but those are considered a part of Lantz’s other animated series'.