Little Ricky wants a horse and Lucy thinks it's a good idea even though Ricky forbids it. She enters a "Name the Horse" contest being sponsored by Corny Crinkles breakfast cereal, forwarding entries under her friends' names as well as her own. Lo and behold, the entry bearing Fred Mertz's name wins - but Fred claims the thousand dollar steed belongs to him.
Ethel: "Either you give that horse to Little Ricky, or I'm going to leave you." Fred: "Ethel, if you're trying to scare me, you've gotta do better than that!" Fred utimately acquiesces, and Lucy finds herself saddled with the care and feeding of a love-starved horse named Whirling Jet.
Lucy is determined to keep the animal despite Ricky's objections, and with the financial help of Betty Grable (who with husband Harry James is appearing in Ricky's nightclub show) she enters Whirling Jet in a harness race. Lucy: "Betty, you're just what I've been looking for - an Ethel Mertz with money!" Whirling Jet will not respond to the driver's commands, however, so Lucy disguises herself as a man and races him herself.
Special Notes: Although Krispy Krinkles is a fictional cereal, during the 1950s Post marketed a cereal called Krinkles, which was subsequently known as Rice Krinkles, Sugar Coated Rice Krinkles, and even Sugar Sparkled Rice Krinkles, but never Krispy Krinkles. The brand was discontinued in 1969, but tasted pretty much like sugar-coated Rice Crispies.
Bloopers: While Lucy races Whirling Jet (as a fake horse prop), you can very clearly see a string bobbing the horse's head up and down.