Prologue: The narrator invites the reader to escape the clamor of the modern city by delving into a tale from King Bahthur's days, a period presented as nobler and more serene.

Act 1: King Bahthur and his knights, Sir Allhehad, Sir Launcealittle, Sir Goway, and the King's Jester, engage in humorous banter. Bahthur addresses a rumor about Sir Launcealittle's unfair victory in a contest, which Launcealittle defends with a comic recounting of the event. The King gifts Launcealittle a "royal knight-shirt" as a sign of favor.

Act 2: Sir Launcealittle daydreams about improving the kingdom and marrying Queen Gwen, who complains about the state of the kingdom under Bahthur's rule. This act reflects on desires for personal and political improvement with a light-hearted tone.

Act 3: Sir Goway boasts of his adventures and a dubious act of heroism, revealing a comedic twist on the concept of knightly valor and reward. King Bahthur praises Goway, further satirizing the notion of chivalry.

L'Envoi: The epilogue laments the loss of the noble era of King Bahthur, replaced by modernity's commercial and mundane aspects, symbolized by flivvers (early cars), packinghouses, bootleggers, and filling stations. It ends on a note that both commemorates and mocks the past's idealization.