Good friends Badger, Rat, and Mole enjoy a quiet and beautiful day by the river near Toad Hall in the English countryside.
Back at the weasel's den, the Chief introduces his partner as Isambard Beerbohm Toad: a stage actor, impersonator, and confidence trickster.
Forced to wait on the weasels while dressed in the uniform, the three friends realize his plight and sneak into the Hall via a tunnel with a distraction by Billy and the mice.
The plot unwinds: the Weasels plan to dynamite Mole End, Rat's river house, and Badger's burrow, forcing them to leave the area while keeping the real Toad as a permanent prisoner.
The imposter and Chief Weasel are arrested and sent to jail while the friends enjoy another peaceful day by the river, and Toad takes up yet another craze: stage acting.