In a small town lies Villa Villerkulla, and in that villa a small girl, Pippi Longstocking, has moved in with her horse and monkey.

The student Olle has signed up to sail the Atlantic. But his sensitivity and personal problems make it difficult to be accepted on board. When some of the students belongings disappear the suspicions are aimed at Olle.

A number of complicated relationships develop between a circus ringmaster, his estranged wife and his lover.