Mr. PeanutButter starts his campaign for Governor of California and starts by challenging the current governor to a ski race while Bojack is nowhere to be found.
In 1992, a production studio begins filming the pilot episode for an "Untitled Horsin Around Knockoff". While the children actors are well received by the audience, the foster father, played by Vincent D'Onofiro isn't. D'Onofiro refuses to try and act more likable, or as he calls it "a blank slate" and quits. At the same time, Mr. Peanutbutter walks onset and his antics are very well received by the audience, causing the director to hire him on the spot.
It then cuts to 2017. Mr. Peanutbutter is trying to get signatures so he can run for Governor (with his ex-wife Katrina as his campaign manager), Diane is now working at Girl Croosh, and Princess Carolyn is still dating her boyfriend Ralph. Todd's girlfriend Emily breaks up with him as she wants to have a sexual relationship and Todd is Asexual, but she gives him a Drone Throne as a present. Todd spends his time on the Drone Throne, but loses control when he drops the controller. Princess Carolyn has been feeling ill for a while and believes she might be pregnant, but doesn't tell Ralph about it.
By the end, however, Mr. Peanutbutter fails to get enough signatures to run for Governor but decides to challenge Governor Woodchuck to ski race for the position. Woodchuck outright refuses, even stating that there is no rule about doing so, but Katrina pulls some strings and makes it an amendment to do so. Mr. Peanutbutter trains to ski as a result.
On the day of the race, Woodchuck is in the lead, while Mr. Peanutbutter is struggling. P.C. wants to move in with Ralph and reveals that she was pregnant but had a miscarriage. Ralph isn't upset, however, and decides that they will try for a baby together, brightening P.C. In a shocking turn of events, Todd crashes his Drone Throne, and ends up winning the race by crossing before Woodchuck making him the new Governor. Todd, however, doesn't want to be Governor and abdicates from the position. With no Governor now, a new election starts with Mr. Peanutbutter challenging Woodchuck for the seat. Now panicked that things are spiraling out of control, Diane tries to call Bojack (as she has been leaving him messages this entire episode), but only gets a voice message that his voicemail box is full.
- BoJack Horseman (voiced by Will Arnett)
- Princess Carolyn (voiced by Amy Sedaris)
- Diane Nguyen (voiced by Alison Brie)
- Mr. Peanutbutter (voiced by Paul F. Tompkins)
- Todd Chavez (voiced by Aaron Paul)
- Mr. Peanutbutter: "I haven't been this nervous since Diane was vacuuming during a thunderstorm on the 4th of July and I had to take a bath and there was a stranger in our yard."
- Emily: "Todd, you're great."
- Todd: "What a way to end a sentence."
Emily: "- But..."
- Judah: “I never developed a signature. I find them unnecessarily ostentatious.”
- David Chase: “I want your face on billboards, you beautiful, nonsensical clown prince.”
- This is the first episode in which BoJack Horseman does not appear physically at all, despite being mentioned many times throughout the episode and being heard once through a voicemail message.
- According to the MSNBSea news crawl, Character Actress Margo Martindale is still lost at sea and presumed dead.
- David Chase (creator of "The Sopranos") is shown to be the showrunner of Untitled Horsin’ Around Knockoff, a fact first mentioned in Season 1's Zoës and Zeldas.