After an introduction by the wolf, the plot follows closely to the story of the three little pigs. The first pig erects a wire structure, then quickly bushels hay over the structure for the house. The second pig uses hundreds of matches to make up his house. The third pig goes through the tedious task of laying bricks for his house.
After the first two pigs have quickly finished their houses, they start dancing around and laughing with each other. The wolf dresses as a gypsy and temporarily fools the pigs, but soon drops the disguise and chases them to their respective houses. With the straw house, the wolf uses a lit match to burn the house, and with the match house, he drops a solitary match on the roof, causing the house to collapse.
Once the first two pigs join the third pig in his brick house, the wolf again dresses up - this time as a homeless woman playing a violin, while it's snowing outside (the 'snow' actually talcum powder held above the wolf's head on a stick). The first two pigs have pity on the wolf, and despite the third pig blocking the door, the two other pigs let the wolf in. When the wolf continues to play the violin, the third pig sees that the wolf has a record player hidden behind him. The third pig switches to the other side of the record, putting on a fast-paced dance. The wolf dances to this new tune, but loses his costume as a result. The wolf then chases the pigs up to the second floor of the house. The pigs make their escape in an elevator, but when the wolf tries to use the elevator, he drops into an empty shaft and falls at the feet of the pigs.