An animated fantasy about the last unicorn in the world, who leaves her home in the lilac woods on a quest to discover what happened to all the other unicorns. Along the way she meets many colourful characters but her journey becomes marked with peril when she is captured and put on exhibition in a carnival. An inept magician named Schmendrick manages to free her and joins her quest. Together they search for King Haggard's castle, where the evil Red Bull lives. Can Schmendrick conjure up enough magic to defeat Red Bull in time to free many other unicorns and save them from a horrible fate at sea?