Pipì, Pupù and Rosmary are playing with some accessories they have made themselves: a laurel crown, a chestnut party hat, and a necklace made of flowers. The problem is that during their walk, these objects disappear one after the other, and just as our three friends are starting to wonder how this is possible, it starts to snow and they are forced to seek shelter in a nearby grotto.
After they have built themselves a nice campfire, they fall asleep. First two thieving wolves enter the grotto but they can’t find anything worth robbing, and then the grotto’s owner arrives: a thieving magpie. He pushes aside a stone and deposits the stolen goods in a safe. But as soon as the magpie discovers our three friends asleep in his house, he calls a police dog who, after having searched them, confirms that they are not thieves.
In the meantime the wolves, who have taken the safe, are trying to sneak out of the grotto, but they trip up and are spotted by the police dog who, after having seen the contents of the safe, which include Pipì, Pupù and Rosmary’s lost goods, chases after the real thieves, the wolves, and lets our three friends go, as well as the magpie, because he’s a natural-born thief.
The magpie, now feeling guilty about having falsely accused our friends, returns all their belongings to them and offers them to stay in the house as long as they want or need to rest.