Young Polly Regan (Brittney Bomann) and her grandfather (David Warner) are saddened when their prized mare dies while giving birth but amazed when the newborn foal turns out to be a gleaming white unicorn! It isn't long before a snooping reporter gets wind of the supernatural steed and a host of crazies, including a hack magician (George Hamilton) and an evil circus owner (Joe Penny), descend on Polly and Grandpa to cash in on the phenomenon.