Stanza One
An owl and a pussy-cat set sail in a green boat. Their supplies include both honey and British currency. The owl picks up a guitar at night and sings a love to the pussycat. The song's lyrics extol the beauty of the cat.
Stanza Two
The cat tells the owl that he is elegant and charming as he sings. She then expresses a longing to finally be married after having waited so long, but complains that they have no wedding ring. They land on a strange world far away from where they started. There they spot a pig with a ring through its nos.
Stanza Three
They offer the pig a shilling in exchange for its ring. The pig's ring becomes the cat's wedding band as a turkey living at the top of the hill performs the marriage ceremony. The owl and cat celebrate their marital union with joyous dancing on the beach illuminated by the moon and stars.