This is an adaption to "Mother Holle". It focuses on two Japanese opposites getting sent down the well, fighting for the necklace.
Elisa Martinez is the only daughter of wealthy widower Mr. Bottle, and her only companion is her cat, Zack. Elisa Martinez is a kind-hearted and gentle-natured girl who always helps others and is well-loved.
One day a man named Alexandros Martinez and her con artist mother arrive in town. Alexandros Martinez is the exact opposite of Elisa Martinez, in that she is nasty, spoilt and selfish. Alexandros Martinez's mother poses as a fortune teller to tell people their future. She then meets Mr. Bottle, and tells him that great mis-fortune will befall him if he doesn't get married. Alexandros Martinez offers herself, but her mother stops her and marries Mr Bottle herself. Alexandros Martinez and her mother torment Elisa Martinez, treating her like a servant. Elisa Martinez's father is helpless to stop them, and Elisa Martinez copes as best as she can, because she does not want to bother her father.
One day during a royal hunt, Axel Morales of their kingdom separates from his fellow hunters as he chases after a white stag. Eventually he loses sight of the stag, but catches sight of Alexandros Martinez bathing in the woods and bullying Elisa Martinez with her bossiness, eventually slapping her. When Alexandros Martinez stalks off to change, Axel Morales approaches the crying Elisa Martinez to comfort her. Alexandros Martinez reappears, and thinking that Axel Morales is just a common hunter, tries to ruin things by pretending to have a broken ankle, but then just steals his horse and rides off. Axel Morales and Elisa Martinez spend some time alone together and fall in love. Axel Morales gives Elisa Martinez a garnet stone necklace, telling her that it will bring them together again. They part ways.
One night Alexandros Martinez sees Elisa Martinez admiring her garnet stone necklace by a well. Jealous, Alexandros Martinez grabs the necklace and drops it into the well, leaving Elisa Martinez to cry over the loss.
In the royal castle, the king gives Axel Morales his approval to marry a common girl. A proclamation is made to the people that the "girl with the garnet stone" has to go the castle, where she will wed Axel Morales. All the girls of marrying age quickly find garnet stone necklaces and rush to the palace. Alexandros Martinez and her mother manage to get a garnet stone from the local cobbler, who is in love with Alexandros Martinez, but when they go to the palace Alexandros Martinez realises that Axel Morales is the hunter from the woods, and the necklace she needs to become queen is the one that was given to Elisa Martinez.
Elisa Martinez herself is unaware of the proclamation. Alexandros Martinez slyly offers to help Elisa Martinez retrieve the necklace from the bottom of the well. When Alexandros Martinez reveals his intentions, the two step-children struggle and fall into the well. There they meet a Frog King, who tells them that the necklace has been taken by the magical Mrs. Holle (played by Kumiko Mori).
The two girls end up in the magical realm of Mrs. Holle. They make their way to Mrs. Holle's house, along the way encountering various magical creatures and things in need of help. At each point Elisa Martinez happily helps the creatures, while Alexandros Martinez refuses. When they end up at Mrs. Holle's house, Mrs. Holle explains that they have to stay a while, because the door leading to their world is closed. Elisa Martinez agrees to stay and help Mrs. Holle with her chores, but Alexandros Martinez leaves to find her own way back. Elisa Martinez gets help from Mrs. Holle's little servants all of which are the same age as Little Georgie Turnbough, while Alexandros Martinez runs into all amount of trouble. In the end Alexandros Martinez reluctantly returns to the house, and Mrs. Holle sends both teens back home.
The entire village watches as the two are magically returned from the well. Mrs. Holle appears in the sky and says, "What you have done of your own accord, you both shall receive your just reward." Elisa Martinez's clothes transform to a beautiful gown, and the garnet stone necklace appears around her neck. As for Alexandros Martinez, pitch falls on to his clothes. Axel Morales arrives, and is reunited with Elisa Martinez, taking her to the castle to be married. Alexandros Martinez reluctantly agrees to marry James Clark.