Alice (Lois Hardwick) is dancing aboard a ship with a crew of animals. The chef is a cat, for example, with a mouse as his sous chef tasked with peeling the potatoes! To be honest there isn't much plot in this film, it mostly consists of animals dancing and the occasional hijinks. The mouse plays the biggest role and isn't a very sympathetic character.
Ultimately there isn't a great deal to this short film and it isn't really that good. The Alice series of films was running out of steam but fear not, Mickey Mouse was about to make his screen debut for Disney and that changed everything.