The other kids convince Beaver that a note home means he's getting kicked out of school. Wally types a reply from Mrs. Ward Cleaver assuring the teacher that Beaver has been punished for his wrongdoings at school.

The boys send away for a genuine Florida alligator and decide to hide it in their bathroom. Eventually it outgrows the bathroom and is moved to the basement, where the boys charge the neighborhood kids 10 cents for a quick peek.

Beaver comes home from school one day with a black eye. Ward is very upset to learn that Beaver didn't fight back - until he finds out that it was Violet Rutherford who hit his son.

Beaver loses the haircut money that Ward gives him, so he decides to cut his own hair. The results are disastrous; Beaver and Wally have to figure out how to hide his new haircut from their parents until it grows out.

Beaver is sent over to the Donaldson house to deliver flowers from June. While over there, Mrs. Donaldson kisses Beaver on the cheek. Wally and Eddie tell Beaver that Mr. Donaldson is going to kill him.

Beaver and Wally get into a fierce fight one day and June has to rush to the rescue. June suggests they write notes to each other apologizing for their behavior towards one another, but this just leads to another fight.