Act I
The maidens in a European village not far from Paris are frightened, but secretly thrilled, by a mysterious man called Satyr, who kisses and embraces them if they venture into the woods to pick mushrooms. Lucien, an engaged young man arrives, soon followed by his fiancée, Angele, and her idiot-savant cousin, Bebe. Lucien wishes to have one last fling with his mistress, Claudine, before he marries; he has made up a man named Dondidier, like Algernon's Bunbury, so that he may visit him in the country. His bride-to-be has a jealous admirer, Maurice, who persuades her to follow her future husband to witness his philandering.
Angele insists on meeting Dondidier, whom Lucien identifies as the Satyr. Angele sees Lucien having lunch with Claudine. Angele vows to marry Bebe, although she is not attracted to him and plans to be a cold and unloving wife. Lucien says that Claudine is Dondidier's wife, but Angele is not fooled ... until Claudine appears and backs up this story. Angele demands to know where in Paris Claudine and her husband reside. Claudine smoothly gives her an address, adding that Mr. Dondidier is an antiques dealer. It turns out that Bebe provided Claudine with the necessary facts, so that Angele would go ahead and marry Lucien. Having overheard Lucien claim that Dondidier is the Satyr, everyone wishes to meet him in Paris.
Act II
In Paris at the home of the curmudgeonly little antique dealer, his wife and the townswomen encourage the mousy man to demonstrate his talents as the famous Satyr. Two Greek statues, one of Aphrodite, the other of a satyr, have mysteriously disappeared from his shop.
Act III
At the Ball of the Nymphs and Satyrs, the Pink Lady resolves all of the complications, so that Lucien eventually marries Angele, Bebe remains faithful to his Canadian girlfriend, and Dondidier becomes more of a man to his wife.