Little Joe Otter and Billy Mink had been playing together around the Smiling Pool all one sunshiny morning. They had been fishing and had taken home a fine dinner of Trout for old Grandfather Mink and blind old Granny Otter. They had played tag with the Merry Little Breezes. They had been in all kinds of mischief and now they just didn't know what to do.

They were sitting side by side on the Big Rock trying to push each other off into the Smiling Pool. Round, smiling red Mr. Sun made the Green Meadows very warm indeed, and Reddy Fox, over in the tall grass, heard them splashing and shouting and having such a good time that he wished he liked the nice cool water and could swim, too.

"I've thought of something!" cried Little Joe Otter.

"What is it?" asked Billy Mink.

Little Joe Otter just looked wise and said nothing.

"Something to eat?" asked Billy Mink.

"No," said Little Joe Otter.

"I don't believe you've a thought of anything at all," said Billy Mink.

"I have too!" said Little Joe Otter. "It's something to do."

"What?" demanded Billy Mink.

Just then Little Joe Otter spied Jerry Muskrat. "Hi, Jerry Muskrat! Come over here!" he called.

Jerry Muskrat swam across to the Big Rock and climbed up beside Billy Mink and Little Joe Otter.

"What are you fellows doing?" asked Jerry Muskrat.

"Having some fun," said Billy Mink. "Little Joe Otter has thought of something to do, but I don't know what it is."

"Let's make a slide," cried Little Joe Otter.

"You show us how," said Billy Mink.

So Little Joe Otter found a nice smooth place on the bank, and Billy Mink and Jerry Muskrat brought mud and helped him pat it down smooth until they had the loveliest slippery slide in the world. Then Little Joe Otter climbed up the bank to the top of the slippery slide and lay down flat on his stomach. Billy Mink gave a push and away he went down, down the slippery slide, splash into the Smiling Pool. Then Jerry Muskrat tried it and after him Billy Mink. Then all did it over again. Sometimes they went down the slippery slide on their backs, sometimes flat on their stomachs, sometimes head first, sometimes feet first. Oh such fun as they did have! Even Grandfather Frog came over and tried the slippery slide.

Johnny Chuck, over in the Green Meadows, heard the noise and stole down the Lone Little Path to see. Jimmy Skunk, looking for beetles up on the hill, heard the noise and forgot that he hadn't had his breakfast. Reddy Fox, taking a nap, woke up and hurried over to watch the fun. Last of all came Peter Rabbit.

Little Joe Otter saw him coming. "Hello, Peter Rabbit!" he shouted. "Come and try the slippery slide."

Now Peter Rabbit couldn't swim, but he pretended that he didn't want to.

"I've left my bathing suit at home," said Peter Rabbit.

"Never mind," said Billy Mink. "Mr. Sun will dry you off."

"And we'll help," said all the Merry Little Breezes of Old Mother West Wind.

But Peter Rabbit shook his head and said, "No."

Faster and faster went Billy Mink and Little Joe Otter and Jerry Muskrat and old Grandfather Frog down the slippery slide into the Smiling Pool.

Peter Rabbit kept coming nearer and nearer until finally he stood right at the top of the slippery slide. Billy Mink crept up behind him very softly and gave him a push. Peter Rabbit's long legs flew out from under him and down he sat with a thump on the slippery slide. "Oh," cried Peter Rabbit, and tried to stop himself. But he couldn't do it and so away he went down the slippery slide, splash into the Smiling Pool.

"Ha! ha! ha!" laughed Billy Mink.

"Ho! ho! ho!" shouted Little Joe Otter.

"He! he! he!" laughed Jerry Muskrat and old Grandfather Frog and Sammy Jay and Jimmy Skunk and Reddy Fox and Blacky the Crow and Mr. Kingfisher, for you know Peter Rabbit was forever playing jokes on them.

Poor Peter Rabbit! The water got in his eyes and up his nose and into his mouth and made him choke and splutter, and then he couldn't get back on the bank, for you know Peter Rabbit couldn't swim.

When Little Joe Otter saw what a dreadful time Peter Rabbit was having he dove into the Smiling Pool and took hold of one of Peter Rabbit's long ears. Billy Mink swam out and took hold of the other long ear. Jerry Muskrat swam right under Peter Rabbit and took him on his back. Then with old Grandfather Frog swimming ahead they took Peter Rabbit right across the Smiling Pool and pulled him out on the grassy bank, where it was nice and warm. All the Merry Little Breezes of Old Mother West Wind came over and helped Mr. Sun dry Peter Rabbit off.

Then they all sat down together and watched Little Joe Otter turn a somersault down the slippery slide.