"Racing Stripes" is the tale of a baby zebra named Stripes (Muniz), who is accidentally abandoned by a traveling circus during a rainstorm. The helpless zebra foal is discovered by horse trainer Nolan Walsh (Greenwood), who rescues Stripes and takes him home to live with him and his young daughter Channing (Panettiere) on their modest Kentucky farm.

Stripes soon becomes a happy member of the farm’s barnyard animal family, led by a cranky Shetland Pony named Tucker (Hoffman) and Franny (Goldberg), a wise goat who looks after Stripes. The group also features bird-brained rooster Reggie (Foxworthy) and Goose, (Pantoliano) a deranged big-city pelican on the lam who’s hiding out in the sticks until the heat dies down in Jersey.

Stripes and Channing grow up together as best friends who, unbeknownst to Channing, share a similar ambition – both dream of racing in the prestigious Kentucky Open. Channing longs to train as a jockey, but her protective father refuses to let her compete in the potentially dangerous sport. Stripes just knows that if he could get onto the track, he could leave all the other horses in the dust. What he doesn't know is…he's not exactly a horse.

The neighboring Estate is run by the ruthless queen of the Kentucky racing circuit, Clara Dalrymple (Malick). Stripes battles the ridicule of the Estate's thoroughbreds-in-training, Sir Trenton's Pride (Jackson) and Ruffshod (Rosenbaum), who taunt him relentlessly about his lack of breeding and unusual appearance. But the Estate is home to some kinder residents, such as Sandy (Moore), a beautiful mare whose admiration and affection for Stripes further enrages his rivals.

With the help of his barnyard friends, Stripes must overcome prejudice and self-doubt to pursue his lifelong dream of running with the big horses and landing in the winner's circle. Some champions are born, not bred.