The story centers around the boastful Tinker of Wraye, who prides himself on being fearless and superior in various skills. Despite his bravado, he encounters a supposed giant at night, which terrifies him. He meets Hal, the miller's son, who insists on facing the giant. When they approach the figure, Hal courageously strikes what turns out to be a makeshift 'giant' constructed with a pumpkin and a coat—the work of local pranksters. This incident reveals the Tinker's exaggerated tales of valor as hollow, leading to the end of his boastful antics. The story illustrates themes of humility, the danger of pride, and how fear can distort reality.