Best friends since childhood and roommates since high school graduation, party girls Romy and Michele are two carefree young women living in Southern California. When they hear about their upcoming ten-year class reunion, the pair take stock of their lives since high school and are genuinely surprised to find they have very little to brag about. To compensate for their apparent lack of achievements, they decide to reinvent themselves, concocting fantasies of wealth and success to impress their former classmates.