La Vie Parisienne follows Raoul de Gardefeu and Bobinet, two racy young Parisians, who are in love with Metalla, a beautiful young woman aspiring to high society. Metalla rejects both Gardefeu and Bobinet in favour of a richer and older man. The two rejected young men become allies.

Several rich tourists arrive in Paris - the Baron and Baronness of Gondremarck and a millionaire Brazillian bent on spending his money as quickly as possible. Gardefeu invites the Baron and Baroness to stay with him.

Metalla appears at Gardefeu's house, wanting to make up with him. When Gardefeu tells her that another woman is occupying the guest room in which she had stayed, Metalla leaves in a huff. In the meantime the Baron has met Metalla and has fallen in love with her. To entertain and distract the Baron, Gardefeu arranges a huge party which takes place at the home of Bobinet's wealthy aunt who is away on holidays. His aunt's housekeeper, Pauline, masquerades as Bobinet's wife and totally fascinates the Baron. Gardefeu invites Metalla, the Brazillian along with Gabrielle, a salesgirl and Frick, a shoemaker, both of whom will pretend to be Aristocrats.

Offenbach's music for La Vie Parisienne includes: