Pippi Longstocking arrives at a small Swedish town to live in a villa with her companions. Pippa's new neighbours -- Annika and Tommy -- are excited about their potential new adventures with Pippi, but some of the adults think Pippi will be trouble.

Local thieves Thunder Karlson and Bloom are always looking for easy money. When they catch sight of Pippi's chest of gold, they are determined to steal it..

Pippi finds a hot air balloon in her attic and decides to try it out with Tommy and Annika, so they fly to the next town and accidentally help with the capture of two criminals.

Thunder Karlson and Bloom consult a criminal manual in hopes of successfully stealing Pippi's gold; however, the manual's instructions are not apt for victimising Pippi.

Pippi decides to enter her horse into the horse show., and after much humiliation from the other contestants, Pippi's horse does very well: despite being unconventional, he gives the best performance.

Two city slickers decide they want to buy Villa Villekulla, so Thunder Karlson and Bloom disguise themselves as estate agents to try to sell Pippi's house without her consent.