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Beaver (Jerry Mathers) is among the charter members of the Bloody Five, an exclusive boy's club -- so exclusive that Beaver's pal Larry Mondello (Rusty Stevens) is not permitted entry. In a pique, Larry informs Beaver that he's forming his own, "neater" club, which already has a huge waiting list Fascinated by Larry's word-pictures, Beav quits the Bloody Five in favor of his pal's new organization, little suspecting that the membership consists of one person: Larry Mondello.