Smokey is a classic Western focusing on the honor associated with treating, in this case, a wild horse with love and care. The star, a wandering cowboy treats the wild horse with compassion and care. After Smokey escapes from his corral, the star finds him by tracking him over wild brush and rocks and finds the horse stuck in a pool of soft mud. With his horse, he manages to pull Smokey out of the mud. After his departure for the Army (WW II), Smokey is sold to a Rodeo where all who try to ride him are bucked off, making the owner of the rodeo money from spectators who pay to watch the event.
When the star returns to the ranch after serving in WW II, he goes with other personal from the ranch to watch the holiday parade and recognizes a horse pulling a cart as Smokey. He tracks down the owner and is able to purchase the horse and return him to the ranch that they love.