Paul and his sister Maureen's determination to own a pony from the herd on Chincoteague Island, Virginia, is greatly increased when the Phantom and her colt are among the ponies rounded up for the yearly auction.

A foal, born in the aftermath of a great storm, and her famous mother help raise money to repair the storm damage on Chincoteague Island and restore the herds of wild ponies on Assateague Island.

With the grand opening of their family's bed-and-breakfast approaching, Willa and Ben are tired of helping their parents get ready for the big day and would much rather be helping their Grandma Edna reunite a foal with its missing mother.