Mortimer Thompson and Steve Craig are a pair of sidewalk confidence men working Broadway one step ahead of the police selling phony watches. Broke, they arrange to have dinner with Gibbs, an old friend, thinking he will help them with some money. Gibbs and his young daughter Gloria don't have much money, either, and think that Steve and Mortimer can help them. On top of needing money, Gibbs is in hiding from notorious gangster Kell Norton. After Steve, Mortimer, Gibbs and Gloria finish their dinner, Gibbs is shot and killed by Norton's men as the group leaves the restaurant. Steve and Mortimer hurry to leave before they too get shot, hastily leaving Gibbs' daughter Gloria behind. Steve reminds Mortimer that they forgot about Gloria. Despite Mortimer's protestations, Steve convinces him to go back for the girl. Gloria stays with Steve and Mortimer for a night at their place. Gloria takes Mortimer's bed, so Mortimer has to sleep in the bathroom. Steve tries to put Gloria in an orphanage but feels bad when she begins to cry. Steve and Mortimer try to care for Gloria with the help of Jean, a hat check girl at their residential hotel. Steve and Mortimer find out that Gloria can sing and dance, so they get her to perform on the street with them. Gloria also helps them sell their fake watches until Jean finds out. Jean expresses her displeasure, but Steve and Mortimer continue using Gloria. Jean has Gloria put in an orphanage because Steve and Mortimer aren't responsible enough to take care of her. Steve wins a craps game with small-time hoodlum Jack Doré to raise money, but Doré refuses to pay off the gambling debt and Steve threatens to get him. Later Norton kills Doré and passes Steve as he is arriving to ask Doré for his winnings again so he can adopt Gloria. Steve becomes the suspect for the crime. Norton realizes Steve is a witness against him and tries to find him to shut him up. To force Steve out of hiding, he kidnaps Gloria. Steve convinces the gangsters to let Gloria go and take him instead. Just as Norton's gang is about to kill Steve, the police arrive at the hideout. His name cleared, Steve marries Jean and they adopt Gloria. Steve, Jean, Gloria, and Mortimer move from the city and open a roadside café.
Warner Bros. hired five-year-old South African Sybil Jason to compete with Shirley Temple. This was the first American screen debut of Jason. Byron Haskins finished the photography on the film, but only Tony Gaudio received screen credit for the movie. In the film, Sybil Jason does imitations of Greta Garbo, Mae West and Jimmy Durante.
Andre Senwald of The New York Times writes in his movie review: "Convinced that Hollywood is suffering from a drought rather than a plague of baby Bernhardts, Warner Brothers have imported a new one, Miss Sybil Jason, from South Africa. She performs all the triple-threat functions in "Little Big Shot", including a couple of impersonations and a song and dance. An engaging infant, she suffers just now from a studied quality that may be the result of overdirection. In some of her big emotional close-ups, the bewildered little girl seems to be making a valiant effort to take advice from half a dozen assistant directors all at once. Then, too, there is the additional difficulty that her British accent makes many of her lines unintelligible."
