Described in the Australian Town and Country Journal as 'a truly Australian pantomime - not a joint from another man's table dished up into a ragout' (30 Dec. 1871, p.852), the story concerns Trookulentos, the Demon of Discontent, who, having just returned from Sydney to his den in the Blue Mountains, is told that Fairy Placida has declared war against him and his followers. In an attempt to out-manoeuvre her, he persuades young Patrick O'Brien, a discontented native who also happens to be the object of Placida's affections, to leave his poor squatter parents and join his forces. Placida, with the aid of Cockatoo, attempts to intercept Patrick, but the demon's power is too strong, and he is able to lure the young man and his servant Bulgurroo (a 'blackfellow') to the bright lights of Sydney. There, Patrick meets a 'Swell of the Period', who begins introducing him to all manner of improper activities. He also takes up with a 'Girl of the Period', who believes him wealthy. Placida and her helpers work hard to free Patrick from Trookulentos' control and manage, at one stage, to entertain him just long enough for his parents to arrive and claim their runaway boy. However, the demon also reappears and claims him as his own. A pitched battle takes place between Placida's forces and those of her enemy. She eventually overcomes the demons, however, with this scene intended as a metaphor for the future of the colony. As a punishment, Placida imprisons Trookulentos and metamorphoses him into Clown. Patrick and two others are changed into Harlequin, Columbine, and Pantaloon.

The musical aspects of the production, arranged entirely by John Hill, comprised a selection of operatic material and the latest popular airs of the period.

The settings presented were:

Scene 1. Den of the Demon of Discontent.

Scene 2. Settler's Hut at the Foot of the Blue Mountains.

Scene 3. Happy Valley and Home of Perpetual Sunshine (incl. Grand Fairy Ballet of the Australian Flowers).

Scene 4. The New Oddfellows' Hall.

Scene 5. Hall of Novelties.

Scene 6. A Haunted Wood.

Scene 7. The Fairy Grotto Prison.

Grand Transformation Scene (Placid Lake of Pure Delight; Grotto of Gloom; Floral Arcades and Golden Glades; The Feats of Ferns, Fruits and Flowers; The Temple of Coruscating Jewels; The Rainbow Cataract and Cascade of Liquid Light).

Harlequinade (set in two well-known Sydney shops: a bakery and a George Street hairdresser's).