When they discover that The Phantom also has a foal called Misty, the children are determined to buy Misty, too. Paul and Maureen, who live in Chincoteague on their grandparents' farm, decide to buy The Phantom at the next Pony Penning Day and work like mad to save up enough money. Every July, in a tradition called Pony Penning Day, the wild ponies of Assateague are rounded up, driven across the Assateague Channel at low tide, and then auctioned off to citizens in Chincoteague, a quaint nearby island. The Phantom lives among a herd of other wild ponies on the mysterious island of Assateague off the coast of Virginia and Maryland. It tells the story of Paul and Maureen Beebe, a young orphaned brother and sister (played by David Ladd and Pam Smith) who fall in love with an elusive wild pony called The Phantom. Clark, is the adaptation of Marguerite Henry's beloved 1947 children's book Misty of Chincoteague. Although The Phantom swims away, Misty returns and gallops back to the jubilant Paul and Maureen. Although The Phantom wins in a practice race against the local champion, the children realize that she is pining for the open freedom of Assateague, and they drive Misty after her into the water that separates the ponies from their former home. Eventually, though, Paul succeeds in 'gentling' her into submission, and he decides to enter her in the next Pony-Penning Day race. Misty takes to the youngsters at once, but The Phantom proves to be more obstinate. Through the intervention of the local fire chief, however, the stranger 'sells' Paul and Maureen the two ponies for their $100. The children, who had earned $100 doing odd jobs, are heartbroken when a stranger buys the two animals before they can bid. When the two youngsters participate in their first roundup, they bring in The Phantom, an elusive mare never before caught, and her newborn colt, which they name Misty. Each year, on Pony-Penning Day, the natives cross over to the nearby island of Assateague and round up herds of wild ponies to be sold at a community auction. Recently orphaned 12-year-old Paul Beebe and his younger sister, Maureen, go to live on their grandparents' pony ranch on the island of Chincoteague, Virginia.

Misty books marguerite henry