With the magic Sword of Love, Harlequin can win the hand of his beloved Columbine and defeat her greedy old father, Cassander. Unfortunately, another admirer is lurking in the wings, ready to seize both the sword and Cassander's money, and with a magician's help, he almost succeeds.

The plot thickens as genuine magic is combined with Pierrot's fumbling attempts to act like a wizard before it all ends with a wild chase through Cassander's house.

The money is returned to its rightful owner and Harlequin and Columbine are reunited with the fairy's blessing.