The hero, Prince Siegfried, is out riding one day with his friends when he sees a swan with a crown on its head swimming on a lake. One of his friends, Adolf, tries to shoot the swan, but just before his arrow flies, Adolf is transformed into a statue. Siegfried's other friend Benno accuses the swan of practicing witchcraft, neither of them pondering the presence of an owl just behind them. Siegfried is unable to stop thinking about the swan, and decides to follow it as it swims away from its spot on the lake. Siegfried soon finds himself at a castle.
