On Christmas Eve we meet James and Della Dillingham, a lower class couple with an apartment that costs $8 a week. Della has been saving up for a gift for James for months, but she on has $1.87. Della has long, brown hair that stretches down to her knees. James has a golden pocket watch that has been passed through his family. They are their most prized possessions.
Della realizes that can't afford to buy a nice gift for James. She feels really bad about that.
Della goes to see Madame Sofronie to get her hair cut. She does this so that she can pay for James's gift. She receives $20 and goes out to buy his gift. She finds a silver pocket watch band for $20 and buys it. Then, she heads home.
James walks in and sees that Della cut her hair. He is very surprised. Della was worried that he wouldn't like her anymore.
James gives Della the the combs he bought her. They were very expensive combs that Della really wanted. Della couldn't use them because her hair was too short. Della then gives James the watch strap, but James says he sold the watch to buy the combs.
They both don't have their prized possessions , but they love each other just as much as before.