Lola and Lotta love giving presents to each other. Whatever Lotta gets, Lola gets the same. But one day, Lotta gets a pretty bracelet. Lola hopes she got a bracelet, too, but instead, she got an emabarrassing sombrero! It's itchy and has little balls on it. Lotta thinks it looks cute on Lola, but Lola does not. Even Soren Lorenson, her pretend friend, thinks it looks ugly on her, too. But it wouldn't be so bad if she lost the sombrero by accident. It's only when she loses it for real is when Lola realizes her friendship with Lotta is more worth than just a sombrero.