In this musical adaptation of the classic fairy tale, a foolish father brags that his daughter, Katie, can turn straw into gold by spinning it on a wheel. The scheming and secretive magical dwarf, Rumpelstiltskin, comes to Katie's aid and creates the gold, leading to marriage and motherhood for her. Unfortunately, Rumpelstiltskin demands her firstborn baby as payment, and the only way that Katie can get her child back is to figure out his name.