An old man and his wife ask Wolf to help them find Kolobok before the Fox does. It turns out that Kolobok is drowning in debt because of his gambling. Now he must pay off this debt by working for Mishap. And Mishap is all about bringing misfortune to everyone around him. Peter and Wolf set off to free Kolobok from his debt slavery. And, needless to say, Kolobok is indeed being chased by the Fox.