The Pumaman turns out to be Tony Farms, an American archeologist who is discovered by Vadinho, an Aztec priest who, like Kobras’s men, confirms Pumaman’s status by defenestration. Vadinho gives Tony a magical belt that gives him a superhero's costume and further powers.
The Pumaman's superpowers include:
Pumaman ultimately defeats Kobras by making the helicopter in which he's attempting to flee crash.
Vadinho's belief structure is depicted as based on the assumption that man is powerful and that a group of aliens are god(s), often repeating the phrase "each man is a god, each man is free."
The movie is widely regarded as incoherent and choppy. Several instances of particular note are the climactic fight where Pumaman spends most of the time jumping around while Vadinho punches out wave after wave of Kobras’s henchmen. Also particularly infamous are the flying scenes, which mostly consist of Pumaman madly waving his arms and legs as the obviously rear projected background advances. There is even a scene where Pumaman grabs a Kobra henchman, flies high into the sky and drops him, where the background footage appears at an angle, making the henchman look like he’s falling sideways. Another noted flaw in The Pumaman — and one that Mystery Science Theater used to great effect — is how much work Vadinho has to do, far outstepping his role as a mentor and performing most of the heroics himself as Pumaman dangles from windows, flies foolishly through the air and constantly requires Vadinho’s assistance.