It's set in a world powered by stories where the characters must go reenact/relive their stories every time they are read in the real world. They get paged like an actor being called to set. Cinderella is feeling disenchanted with her story and wondering if her romance with Prince Charming is really a happily ever after. She then meets the OFG (Original Fairy Godmother) who was apparently banished. OFG gives her the book "The Feminine Mystique" which blows Cinderella's mind but then the evil stepmother steals the book.
Cinderella shows up too early in her story in order to find the book and brings along Snow White (which violates the rules). They learn that Snow White's prince and Cinderella's prince are the same person. Cinderella takes the book back and OFG supplies the rest of the princesses with copies and they decided to go on strike.
They learn the prince is everybody's prince. The narrator is outraged by the strike and sends the prince to win back cinderella. The stepmother manipulatively stands by the narrator, hoping her daughters can take over a place in the story. The strikers are out in the woods. Cinderella leaves to find OFG. The narrator begins banishing strikers. They are kind of in suspended animation after the banishing. He also bainshes one of the stepsisters, which upsets the remaining sister.
Cinderella meets a little girl from the real world in the woods who says she used to love her story but whose story book is falling apart. Cinderella helps her put it back together and tells her most recent story, which doesn't have an ending. The OFG shows up and reveals the little girl is her grandkid. Cinderella realizes she must write her own story and goes back to her friends, discovering they're banished. She throws her shoe which breaks them out. They all go back to confront the narrator and get the quill to write their own story. The various antagonists (narrator, stepmom, prince) apologize and they all hold a quill to write new stories for the modern age. At the end, cinderella learns that the OFG is Betty Friedan, author of the feminine mystique.
Also there is one romantic subplot between Clumsy (the dwarf from snow white) and a prince in the Prince's entourage.