The film concerns a failed puppeteer who lives in Italy pretending to lead the successful life of fame and fortune which he seemed destined for when he left. The expectations rested on a magic puppet which could fly, but when Maxim leaves his childhood sweetheart, Masha, to chase glory and recognition, the puppet's powers vanish. Unknown to Maxim, Masha was bearing his son, and, distraught at his departure, raises the boy to hate the absent father. When Maxim returns to his village to fulfill the promise he made to give a school performance on New Year's Eve, an angry confrontation with his son leads to a family reconciliation and the puppet's powers return.
Source : www.kinoeye.org