When orphan Polly discovers her horse may die giving birth, she wishes with all her heart for help from the King of the Horses, the Unicorn. As the mare dies, she thinks her wish has gone unanswered until she see the foal... a baby unicorn which totters it's way into Polly's heart.
When a sneaky photo of the unicorn appears in a newspaper, media uproar ensues. Polly's Aunt Lucy (Emma Samms) send Polly away to boarding school, leaving no one to protect the little unicorn, except her ageing grandfather (David Warner).
He soon has his hands full when bumbling magician, The Great Allonso (George Hamilton), decides that the unicorn can restore his failing magic abilities and unscrupulous ringmaster Tiny (Jo Penny), prepares to steal the foal to exploit it in his run down circus. Can Polly and her best friend, Toby rescue the unicorn and so free it to work the magic it has come into the world to perform?