The story opens on a sunlit Saturday afternoon in a quiet meadow and an adjoining woodlot, where three children—Johnathan, Janet Jane, and small Peter—play at being valiant knights and fair ladies. While exploring the terrifying woodlot, six-year-old Peter discovers a gigantic, bright green dragon who is weeping because he is the last of his kind and has lost his purpose in life. Unlike the terrifying beasts of legend, this dragon is gentle, loves to eat grass, and quickly wins the hearts of the children and their clever, story-loving grandmother. The family attempts to hide the enormous creature in their nursery, leading to delightful chaos before the children's mother insists he must leave.
Undeterred, the children and Grandma embark on a magical journey backward through time on the dragon's back. They traverse the centuries, witnessing history unfold while riding toward the Dark Ages. Along the way, they encounter epic adventures, rescue an enchanted princess with silver toes from an evil magician named Mig, and even befriend another dragon named Dallahan. Throughout the journey, the children learn about courage, loyalty, and the power of believing in the impossible. The narrative weaves together humor and tender moments, highlighting how adults lose their capacity for wonder while children keep the magic alive.
As the adventure draws to a close, the travelers return from the past through the very cave where the dragon was first discovered. The princess is restored to the dragon, and the children find themselves safely back in their nursery as a Sunday morning sun rises. Although their parents dismiss their incredible tales as mere imagination, Grandma and the children share a knowing secret. The book concludes with subtle hints that the magical world of dragons and pixies is never truly gone for those who still know how to look for it.
