Two beavers, working harder than beavers, are cutting down trees in order to build a dam when they notice cords of wood piled next to a dog-house. They start hauling it off, as a labor-saving device, but the guard-dog objects and starts chasing them. They easily avoid his futile attempts to catch them and, to add insult to injury, they even dismantle the dog-house. When winter comes and the first snow, the dog, his house destroyed by the beavers, is out in the cold. Ashamed of their actions, the two beavers disguise the dog as a beaver, and the trio spends the winter in the beaver's home.