Set on an island off the coast of Virginia, this charming film stars 12-year-old David Ladd and his young sister, Pam Smith, as an orphaned pair living with their grandparents. When the locals engage in their annual Pony-Penning Day activities, the children joyfully go along, traveling to a
nearby island where they round up a herd of wild ponies that are then put up for auction. The children are able to capture a mare named Phantom that has eluded the pony-penners for some time and also catch her colt, which they name Misty. They've saved $100 in order to purchase a pony, but when
Phantom and Misty are put to auction, a stranger ends up as the owner. The heartbroke...