Jacky knows that the ponies at Miss Henderson's riding school aren't much good. They're old, and they're underfed, but one is different. The black mare, Flicka, is ready to take on the world, and Jacky's dearest dream is to do it with her. But the riding school is to be sold, and all the ponies are going to auction.

Jacky wants to buy Flicka more than she's ever wanted anything, but she has to find the money from somewhere first. And even if she does buy the pony, with Miss Henderson gone, how will Jacky manage to school Flicka?