The stars of Bugs!, Hierodula, the mantis, and Papilio, the butterfly, are born in the same part of the exotic Borneo rainforest. Their home is the foliage around an abandoned and dilapidated shack on the edge of the river. Here, we witness Hierodula and Papilio mature and grow. Hierodula develops by incomplete metamorphosis; emerging from his egg as a mini-mantis and shedding his skin regularly on the way to gaining his adult wings. Papilio goes through a complete metamorphosis, from caterpillar to butterfly via the pupal stage.
As they develop we meet a fascinating array of creatures who share their habitat. After many near misses, the hunter, Hierodula, acting on instinct, catches Papilio. In an uplifting ending we discover that Papilio had managed to lay her eggs before being caught, and the film ends with her offspring emerging from her tiny egg to continue the circle of life.