The Wizard of Oz, originally a book by L. Frank Baum, is best known in the film version starring Judy Garland. At the beginning of this beloved fantasy story, we see Dorothy living on a farm in Kansas with her Aunt Em and Uncle Henry. No one has much time for the young girl, and she is left to her own devices. She daydreams about a fantasy place "over the rainbow." As fate would have it, a big twister comes up, and she is knocked unconscious by a window frame that is blown into her bedroom. She dreams the house is lifted from its foundation by the wind and lands in Oz...

Glinda, the Good Witch of the North, appears and says Dorothy has freed the Munchkins from the Wicked Witch of the East, who was crushed under Dorothy's house when it landed. The Wicked Witch of the West then appears and wants her dead sister's ruby slippers. When Glinda arranges for the slippers, which have magical powers, to go to Dorothy, the Wicked Witch vows revenge.

Dorothy wants to get home, and Glinda advises her to walk to Oz and consult the Wizard. On the road Dorothy acquires three companions: a Scarecrow who hopes the Wizard will be able to give him some brains, a Tin Woodsman who wants the Wizard to give him a heart, and a Cowardly Lion, who hopes to acquire some courage.

They survive several attempts by the Wicked Witch to destroy them, arrive at the Emerald City, and finally get into the chamber of the Wizard, whom no one has ever seen. There is a big stage effect of smoke, and they hear the impressive voice of the Wizard telling them that before he will grant their wishes they must prove their worthiness by bringing him the broomstick of the Wicked Witch.

They go into the enchanted forest, and the Wicked Witch instructs her army of winged monkeys to bring back Dorothy and her dog. The Witch still wants the ruby slippers. But they won't come off Dorothy's feet, and the witch decides she'll have to kill Dorothy to get them.

Toto escapes, finds the others in Dorothy's group, and leads them back to the Witch's castle and the room where Dorothy is being held. The Woodsman breaks open the locked door with his ax. But the Witch corners them before they can get out the front door and sets fire to the Scarecrow. Dorothy grabs a bucket of water and throws it on him. In the process, some of the water gets on the Wicked Witch, who melts away.

The four of them go back to the Wizard with her broomstick, and he tells them to come back tomorrow. But Toto pulls aside a curtain, and they see a man running all the machinery that creates the impressive stage effects. They realize the whole thing is an illusion (the Wizard being a Three), and they won't get the things they seek, after all.

But the Wizard gives the Scarecrow a diploma, which attests to his brains, and once he believes he has brains, he does. The Lion, says the Wizard, is suffering from disordered thinking. All he needs to attest to his courage is a medal, and the Wizard produces one.

The Tin Woodsman, who needs a heart, is given a testimonial: "A heart is not judged by how much you love, but by how much you are loved by others." The Wizard plans to take Dorothy back to Kansas in the balloon he arrived in years ago. But once they are ready to go, Toto jumps out of the balloon basket, Dorothy runs after him, and the balloon takes off without her.

Dorothy is in despair of ever getting home, but Glinda appears and tells her she has always had the power to go home. All she needs to do is close her eyes, click the heels of her ruby slippers together three times and think three times, "There's no place like home." She wakes up in her bedroom, thrilled to be home, and vows never to leave again.