Three of the original five "young guns" — Billy the Kid, Jose Chavez y Chavez, and Doc Scurlock — return in Young Guns, Part 2, which is the story of Billy the Kid and his race to safety in Old Mexico while being trailed by a group of government agents led by Pat Garrett.

Pat Garrett is hired as a lawman on behalf of a group of wealthy New Mexico cattle barons to bring down his old friend Billy the Kid.

A group of young gunmen, led by Billy the Kid, become deputies to avenge the murder of the rancher who became their benefactor. But when Billy takes their authority too far, they become the hunted.

A young American outlaw, famous in the east for his exploits, must return to his hometown to find stolen loot. But when his shame catches up with him, he realizes too late that he cannot come home.

Billy the Kid and his pal Jeff help their friend Fuzzy Jones escape from jail, and the trio heads for Paradise Valley, where they find the Paradise Land Development Company, ran by Matt Brawley and Jack Saunders, is somewhat less than honest in their dealings with the homesteaders. They devise a plan to cause a split between Brawley and Saunders.

Formerly lost western starring Jack Elam

In the second of the "Billy the Kid" series from PRC that starred Bob Steele, Billy the Kid is being held on a trumped-up murder charge in a Mexico jail. He escapes and meets his pal, Fuzzy Jones, in Corral City, Texas, which is taking a holiday to allow the cowpunchers of the Lazy A Ranch their periodic spree. In the saloon, Billy is recognized by Dave Hendricks and Flash, two the Lazy A's bed men, as the rider who had held them up after they had robbed the express wagon a few hours earlier. Outside, Billy is ambushed and slightly wounded, and is taken to the express office by Jim Morgan where Mary Barton, the local agent, agrees to tend him until the doctor arrives. Billy turns over the loot he took from the outlaws and he is appointed sheriff, with Fuzzy as his deputy. The Lazy A gang brings in a noted gunfighter, Gil Cooper, who turns out to be Billy's brother. Billy, Gil and Fuzzy eventually rout the outlaw gang, and Gil remains behind with Mary as Billy and Fuzzy ride off.

Although the Lincoln County War has come to a conclusion, Billy the Kid turns his back on a gubernatorial pardon and continues his lawless career.

Escaping from the law once again, Billy, Fuzzy, and Jeff ride to the ranch of Jeff's uncle only to find another family living their. They soon learn of Cobb Allen's scheme where he sells a ranch, makes sure the rancher can't pay off his note, kicks him out, and resells the ranch. But Billy has a plan to recover the ranchers' money and he sends Fuzzy to town with a fake map to a gold treasure.

Billy the Kid becomes embroiled in Lincoln County, NM, land wars. When rancher who gave him a break is killed by rival henchman, Billy vows revenge. New employer takes advantage of his naivety to kill rivals, lets the Kid take rap. Kid takes to the hills with friends until caught. Escapes hanging but remains in area to be near employer's young wife with whom he's infatuated

Cattle baron John Chisum joins forces with Billy the Kid and Pat Garrett to fight the Lincoln County Land War in the New Mexico Territory of 1878.

Newly appointed sheriff Pat Garrett is pleased when his old friend Doc Holliday arrives in Lincoln, New Mexico on the stage. Doc is trailing his stolen horse, and it is discovered in the possession of Billy the Kid. In a surprising turnaround, Billy and Doc become friends. This causes the friendship between Doc and Pat to cool. The odd relationship between Doc and Billy grows stranger when Doc hides Billy at his girl Rio's place after Billy is shot.