Looney Toons Director Reveals Plot

Bugs and Daffy work at a movie studio. Daffy quits because he's tired of Bugs getting all the favorable treatment. He hooks up with a stuntman who is also fired the same day due to hanging around with Daffy too much, and gets involved in his adventure because his father was a secret spy on the trail of a mythical blue diamond. Daffy, of course, wants to go on the journey with him but the studio decides they want Daffy back, so Bugs and a young studio executive heroin have to go out and try to bring him back. It takes place over several continents and it's quite a big deal.