Greed bad. Sharing good.
This is a pretty sappy story. It's Christmas during the Depression, and there are three girls in a poor family. One of the girls wants a store-bought doll. Her sisters tell her she'll never get it. The three of them together receive it as a present, and she declares that it must be hers because she's the one who asked for it, despite their protests. They reluctantly give in, and she starts playing with it and excluding them, so they leave and play on their own. Then she feels lonely, because playing with a doll by yourself is kind of boring. Then she invites them to join her and they have a lot of fun.
It's a pretty heavy-handed message against greed. Playing with people is more fun than playing with objects. The message is true, but it's just very annoyingly presented.