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Little Felix Grosser is given a chest full of tin toys by old Mrs. Goldberg. The woman had once saved the toys for her future grandchildren, but her children were too busy working to start a family. Now Felix receives the old toy and Mrs. Goldberg warns him not to let it fall into other people's hands. Felix takes a white, dancing "magic horse" from the chest into his nursery, along with various other items. His parents, who are busy remodeling the bathroom despite a lack of materials, only find out after a while that the pony is a gift from Mrs. Goldberg, who no longer lives in the house. They have no idea about the chest full of toys in the attic.