Penny Parker is facing a dilemma. Halloween is approaching and she can't decide what costume she wants for trick or treating. Should she be something cute, something scary or maybe someone exotic? Mom promised they would buy a costume soon, but Penny must learn patience and wait several days to make the trip to the store. At the store, she is faced with choosing from among all the many costumes. Finally, they find the perfect costume - a pink and black pirate outfit with a matching hat. Of course, now that she has her costume she must patiently wait for Halloween to actually wear it. Penny enjoys trick or treating as a pirate, but her desire to be a pirate does not end there. After Halloween she continues to dress in the costume and pretends her bed is a ship as she sails to further imaginary adventures as Penny the Pink Pirate.