Struggling circus owner Max Medici enlists a former star and his two children to care for Dumbo, a baby elephant born with oversized ears. When the family discovers that the animal can fly, it soon becomes the main attraction -- bringing in huge audiences and revitalizing the run-down circus. The elephant's magical ability also draws the attention of V.A. Vandevere, an entrepreneur who wants to showcase Dumbo in his latest, larger-than-life entertainment venture.