Gerald, a finance executive (Adrian Pasdar), finds himself thrown out by his wife when she discovers women's underwear in their flat; in fact the clothes belong to him. He takes lodgings with Monica (Julie Walters) who gradually discovers his alter ego, "Geraldine". A sub-plot deals with his boss' plan to defraud their Japanese clients, and how the couple thwart it.
The film is based on the novel Geraldine, For the Love of a Transvestite by Monica Jay, and is one of the few "cross-dressing" movies in which the hero is actually a transvestite, unlike Some Like it Hot, Tootsie, Mrs. Doubtfire, and others in which the cross-dresser has an ulterior motive.
The film's title is taken from that of a song by Bob Dylan.
Samuel Goldwyn film. 102 minutes.