Their mother buys the children a new carpet to replace one from the nursery that they have destroyed in an accidental fire. The children find an egg in the carpet, which hatches into a talking Phoenix. The Phoenix explains that the carpet is a magic one that will grant them three wishes a day. The five children go on many adventures, which eventually wears out their magic carpet. The adventures are continued and concluded in the third book of the trilogy, The Story of the Amulet (1906).