The Jolly Old King of Not-at-All and his daughter the Princess prepare to celebrate the coming event of the Princess's wedding to a handsome young prince. Vexed by such merriment, the Ugly Old Troll visits the castle uninvited. Frightening everyone, he carries off the kingdom's treasures. The King is about to cancel the celebrations when the Princes, remembering her special friend in times of trouble, makes a wish for the appearance of Mr. Peppercorn, the little Irish leprechaun. The wish is fulfilled. With Peppercorn's know-how and winning ways, along with plenty of audience involvement, the Troll is encouraged to make amends, just in time for the celebrations to proceed.