It's Christmas at the cottage by the lake and the bears are busy preparing to celebrate. The human owners of the cottage, however, are in the city feeling glum. Until the idea comes to them to spend the holidays at their cottage.
What follows is a set of misadventures as the family arrives without presents—they were left on the train—and without the usual holiday accoutrements—the Christmas trees and turkeys are all sold out. But they are in for a treat as the cottage has been decorated by their unseen friends. So the bears unwittingly save Christmas for their human hosts, yet are still able to enjoy their own fine celebration. And, as with the other books, the bears do so all while cleverly avoiding confrontation with their human friends.