This one is strictly juvenile entertainment and holds little for adults. It's about a queen who complains to the king that she is in tatters and needs new gowns. Oswald's sister claims she can spin straw into gold. A dwarf appears and makes it possible for her to produce the gold with the provision that she guess his name within a certain time. Oswald overhears the conversation, discovers the dwarf's name and returns in time to save his sister and the gold.