The Pink Panther decides to become a matador and to this purpose confiscates a magician's cape. The panther enters a bullfight ring with the magical cape, and the bull is thwarted not by the panther's bullfighting prowess but by the cape's trickery, in that it deposits flowers onto the bull's horns and produces a foul-tempered, kicking rabbit that angers the bull into running through the cape and being split into two halves.

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