O'Neil and Ditko follow up the previous issue in Beware...the Creeper 3 (Sept/Oct 68), as the police continue to pursue the hero, and he is still on the lookout for Proteus.
Once again there isn't really that much to the story. With the police and public thinking that the Creeper is a killer, he finds it easy to scare the hoods that he deals with.
Jack Ryder is still getting crap from his boss, Bill Brane, for not being able to find the Creeper, but he is more concerned with tracking one of Proteus' henchman, who gets out of jail and heads to a remote island. Vera Sweet is also on the story of the island, and winds up captured by the bad guys there.
The criminals are using it as a safe hangout, dressing up in absurd costumes to scare others away. They learn that the Creeper is on the island, but figure they can hunt him down and kill him.
Of course, it doesn't work out that way. He goes after Proteus' henchman, who winds up dying in a boat crash.