Well, a homeless vagrant is wondering through the woods when she comes across a house where the occupants have left the door open, so she goes inside, helps herself to their food, breaks their chairs, and decides to have a sleep in one of their beds (after helping herself to the owner's jewellery). ...
I loved the art style as a kid and also liked that this particular version doesn't end with Little Red Riding Hood being eaten. It's good for the younger kids and especially those prone to being a little sensitive.