The cartoon revolves around three different storylines that all take place on a frozen lake during wintertime. In the first, Mickey helps Minnie learn how to skate. The second storyline has Goofy attempting to catch fish by dropping tobacco into the water and making the fish come up to spit. Donald pulls a prank on Pluto by putting ice skates on his feet and luring him out onto the ice in the third one. The subplots come together when Donald skates around with a kite on his back. The wind kicks up and sends him flying over the waterfall. Mickey hears his cries for help and saves him by pulling on the yarns of his sweater. Donald ends landing right where Goofy is fishing.
This is one of the few times where Donald is seen almost completely naked.
As revealed in the reenactments of the Bambi story meetings on the DVD, the gag involving Pluto on ice skates helped serve as the inspiration of the scene where Thumper teaches Bambi how to skate.