The narrative opens with the arrival of the Meredith children at the manse in Glen St. Mary, bringing lively chaos to the quiet community. The story centers on their adventures, friendships with the Ingleside children, and the challenges of growing up without a mother's guidance. Mary Vance, an energetic orphan who runs away from a harsh foster home, joins their circle and brings both excitement and trouble.
The plot explores the children's imaginative escapes in Rainbow Valley, their innocent mischief, and their sincere attempts to understand the adult world around them. As the local congregation and gossips react to the children's unconventional upbringing, bonds of loyalty are tested and strengthened. The arrival of new influences, including a warm friendship with Rosemary West, shifts the dynamics of the community. Throughout the narrative, the deep affection between the children and their absent-minded father remains the anchor of the story. The book concludes with a sense of growth and enduring bonds among the young friends as they face the future together.