Margaret longs for a life of adventure - and she finds it when she joins the handsome Simon on a sea voyage. After battling a sea serpent, Margaret is washed ashore alone. She takes shelter with an old woman who tells her of a terrible giant. He must be faced by a warrior whose finger fits her magic ring; only that champion can use her magic sword to slay the monster. When Simon arrives, the old woman casts a spell: Margaret can't leave until the giant is dead. The ring doesn't fit Simon's finger, but he still sets out to fight the giant - and is killed. Desperate, Margaret grabs the ring-it fits! With the magic sword she kills the giant, and the woman restores Simon to life as her reward.