Here is an extremely simplified version:
Once there was a little rabbit who always wanted to be like the other animals he would see.
He finds a magic pond and wishes for red wings like the red bird he sees in the woods.
He gets them! But he can't fly. So he goes home to Mama Rabbit, but she doesn't recognize him. So he has to go back to the pond and wishes for the wings to be gone.
After they disappear, he goes home and Mama gives him a hug, and tells him he's perfect just the way he is.
While we're talking about this book, I think it would be great for a school library's collection because it presents each folktale with patterns for a felt board story told be the teacher AND also gives a script for the kids to do a readers' theater performance with. It looks like the book is still in print also. Please don't be put off by the plain cover or 1996 copyright date. Others who might enjoy this book are camp counselors and Scout leaders.
Other Flannel Fridays I have posted that are appropriate for Valentine's Day storytimes are The Big-Hearted Elephant, Moose in Love, and A Blanket for the Princess.
Don't forget that Anna is hosting our Extravaganza today!