Seymour S. Sassafrass, an eccentric, yet friendly peddler, and inventor, tells the tale of Peter Cottontail, a young Easter Bunny who lives in April Valley, where the Chief Easter Bunny supervises such Easter items as colored eggs and chocolate candy.

Colonel Wellington B. Bunny, the retiring Chief Easter Bunny, names young Peter his successor despite Peter's propensity for boasting and telling fibs, which is exemplified when his left ear droops. Peter, who has dreamed of being the Chief Easter Bunny almost his entire life, gladly accepts. But not everyone in April Valley is happy with the Colonel's decision. January Q. Irontail, an evil, reclusive rabbit villain who lives in a craggy old tree, alone except for his assistant, a bat named Montresor, wants to be the Chief Easter Bunny...