Paul and Maureen Beebe's determination to own a pony from the herd on Chincoteague Island, Virginia, is greatly increased when the elusive 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.
After being forced to sell their beloved Misty to help their uncle, Paul and Maureen Beebe find an wild Chincoteague pony whom they also come to raise and love.
Captivated by the story of "Misty of Chincoteague, " a woman with a horse farm in Florida raises one of Misty's descendants to become a champion show horse.