The book begins by describing everything that is in the room - this includes a telephone, a balloon, a picture of a cow jumping over the moon, bears sitting in chairs, and much much more. The narrator of the novel continues to describe all of these things in little to no detail - readers only know the fact that they are in a little green room.
Suddenly, the narrator has a change of heart, and decides to go to bed. Saying goodnight to their humble abode, the narrator wishes a very good night to the room, the moon, the cow jumping over the moon, the brushes and combs in the room, and more, not to forget the old lady knitting seen in the pictures of the book.
The book ends solemnly by saying goodnight to the most general of things, including the stars, the air, and, finally, the noises of the room. The reader then concludes that the narrator has fallen asleep, no longer conscious to bid farewell to anything else.