The story takes place in 16th century London. The Crown Prince, Edward Tudor, is bored with his privileged life and wishes to experience the life of the common people. One day, he encounters Mickey, a young pauper who looks identical to him. The two boys swap clothes and, after some initial confusion, Edward finds himself on the streets while Mickey pretends to be the prince.
Edward struggles to adapt to life as a pauper, experiencing hunger, cold, and the cruelty of some of the city's inhabitants. However, he also meets kindhearted people who help him, including a reporter named Tom Canty who becomes his friend.
Meanwhile, Mickey is taken to the palace where he begins to enjoy the luxuries of being a prince. However, he soon learns that being a prince is not all fun and games, especially when he is expected to attend formal events and make important decisions.
The situation becomes more complicated when the king dies, leaving Edward and Mickey to contend with the scheming Duke of Suffolk who seeks to seize the throne for himself. With the help of Tom Canty, the two boys must navigate the dangerous waters of court politics and prove their true identities before it's too late.
The story is a classic tale of mistaken identity and the contrasts between the rich and poor. It has been adapted into numerous films, TV shows, and stage productions, and continues to be beloved by audiences all over the world.