Oscar. Tango. Hellwater. is a horror re-imagining of William Shakespeare's Othello. After losing his strongest employee to a gruesome bear attack, Ottoman Moore is forced to accept the help of a mysterious trio, led by Egon Carthwright, a travelling preacher. The newcomers arrived early for their duties of setting up the town fair in order to trap the murderous bear let loose by a sympathetic amuser from the town prior. Ottoman's life is slowly unraveled as he begins to suspect his wife Daisy of having an affair with one of his employees.

Stories of love are presented through a number of different couples and individuals.