Peg and her two pretty sisters, on the road to seek their fortune, accept the hospitality of an old woman who is really a witch. Peg outsmarts the witch, and filches her three magic possessions to win princely husbands for herself and her sisters. Sadly, Peg's husband can't love his resourceful wife because of her physical ugliness. Peg's prince wields the witch's magic to find himself as unprepossessing as his spouse.