Ward must make a decision when a conflict develops concerning which son to spend the weekend with. He can either go on a fishing trip with Wally or take Beaver on a father-son weekend. Thinking Ward is going to go fishing with Wally, Beaver makes up a wild story when his classmates start to tease him.

Beaver becomes good friends with a classmate, Linda Dennison. However, their relationship is blown out of proportion by Beaver's classmates who begin to tease him and goad him into insulting Linda, to prove that she isn't his girl.

Being Beaver's godmother, Aunt Martha sends him a gift of a ring that had once belonged to an uncle who was also named Theodore. June cautions Beaver that she doensn't want him taking it to school, but he sneaks off to school with it anyways. This leads to a confrontation between his peers that ends with him getting the ring stuck on his finger.

While cleaning, June runs across an old family scrapbook and gathers the family together to reminisce about the past six years. The Cleavers recall scenes from previous episodes including: Beaver Gets 'Spelled, New Neighbors, My Brother's Girl, The Shave, Beaver Runs Away, Larry Hides Out, Teacher Comes to Dinner, and Wally's Election.