The Return of Captain Invincible

The Return of Captain Invincible is a 1983 Australian musical comedy and superhero film starring Alan Arkin and Christopher Lee. It grossed a mere 55,110 at the Australian box office despite a budget ofmillion.

The plot involves the Captain AmericaSuperman inspired superhero called Captain Invincible also known as Legend in Leotards, The Caped Contender, and Man of Magnet who is active during World War II and afterwards. Once a popular hero to all Americans, he is forced into retirement by McCarthystyle government persecution in the 1950s.A congressional investigation accuses him of being a communist, citing his red cape and premature antifascism. He is charged with violating U.S. airspace by flying without a proper license, impersonating a military officer, and wearing underwear in public. He disappears from the public eye, moving to Australia and becoming an alcoholic. ........

Source: Wikipedia