Frog legs are a delicacy at certain fancy restaurants back East. They come into play when the Virginian oversees a crew of ranch hands who must deliver a trainload of cattle to Chicago. On the way back home, he is challenged by Trampas, who wants the other cowboys to mutiny and go with him to gold country to seek their fortune. Their returning train is delayed by a bridge wash-out that has halted travel for several days, and marooned passengers have run out of food.

The Virginian collects frogs from a nearby marsh, has his cook fry them up, and sells them to the starving passengers. In the process, the Virginian regales everyone with stories about California frog ranches and the vast profits they make. Trampas, intrigued, listens intently until the Virginian finally reaches a punch line that makes obvious that his story is a tall tale. The ranch hands realize that Trampas is a fool, and they refuse to join him, instead returning to the ranch with the Virginian.

The frog legs symbolize the gullibility of settlers who dream of riches but find instead a life of hardship. The Virginian demonstrates that success is more easily found in resourcefulness than in buried ores.