The story follows the journey of a group of young children and their imaginary friends as they set out on a quest to find the lost kingdom of make believe. Along the way, they encounter obstacles, solve puzzles, make new friends, and learn important life lessons about friendship, bravery, and determination. The story emphasizes the power of imagination and the importance of holding onto one's childhood sense of wonder and magic. Ultimately, the children and their imaginary friends must work together to restore the kingdom of make believe to its former glory and ensure that the magic of childhood lives on.