The Mad Hatter has escaped from prison, and is on a quest to add Batman's cowl to his collection of hats. He attends Gotham City's annual headdress ball disguised as the Three-tailed Pasha Of Panchagorum, and snatches a large ruby off of columnist Hattie Hatfield's headdress. The villain makes a getaway, but not before turning Batman's cowl pink with a radioactive spray. He trails Batman to the Atomic Energy Laboratory, knowing he will have a chance to snatch his cowl when it is removed for decontamination.

What appear to be the skeletons of Batman and Robin are found at Gotham City's Atomic Energy Laboratory, where the Mad Hatter left them to irradiate. Word of their demise spreads like wildfire. With the world busy mourning its loss, the Mad Hatter has no trouble snatching a valuable ruby from the Golden Buddha of Bergama's forehead. However, when rumor spreads that Batman and Robin are still alive, the Mad Hatter's scheme appears jeopardized.