In a gothic, fairy-tale setting, a young girl named Rosaleen lies in her country home, bedridden, while her grandmother spins tales of the dark and malevolent nature of men whose wickedness rivals that of the wolves that prowl the forests. As a dreamlike haze settles over the film, Rosaleen enters a fantastical version of her village that seems suspended in time and myth. She navigates a world brimming with enchanting, often menacing characters, including her kindly grandmother, her distracted parents, and various villagers whose whispered warnings and stories create a tapestry of local lore. Central to these tales is the pervasive caution against wolves, especially the ones that possess a supernatural ability to transform into human shape—werewolves.

In this allegory-rich environment, Rosaleen transitions from innocence to the cusp of womanhood, her red cloak a vivid symbol of her nascent sexuality. She encounters a series of trials and encounters that reflect the classic coming-of-age journey, but with a dark twist that emphasizes the perils and seductions of the wider world. Among these are encounters with wolves that are not entirely animal, nor fully human, and a hunter with enigmatic intentions. The luxuriant, ominous forest becomes the stage for Rosaleen's awakening to the complexities of life, love, and the treacherous yet mesmerizing duality of human nature, all while bearing the wisdom and warnings imparted by her grandmother's eerie stories.