Ths Last Unicorn is a beautiful story, and will always be one of my favorites. It is a story of a unicorn, who overhears two hunters talking about how there are no more unicorns in the world. She then decides to go out to see if this is true or not, she cannot believe that she is the last one. On her way she meets a charming little butterfly who tells her the story of the Red Bull before fluttering off.
During her travels, she gets caught by Mommy Fortuna and put on display in the Midnight Circus. The unicorn discovers then that people had forgotten what a unicorn was, and that Mommy Fortuna had to use magic so people could see her for what she really is.
While there she meets Schmendrick the Magician (who is older than he looks), who helps her escape from the circus. Schmendrick tries to use magic to help her escape, but he nearly ends up killing the unicorn. His magic always seems to backfire on him when he tries to use it. He then joins her on her travels. They soon discover that they have to head to King Haggard's palace to find the Red Bull and what had happened to the other unicorns.
Further along, the unicorn and Schmendrick come across a wandering troop of bandits and their leader, Cully, who wants to be Robin Hood. With this group is also Molly, who doesn't belong with the bandits and is looking for her own way in life. Molly can see what the unicorn truely is, and demands that she be brought along with them on their journey.
On their way to Haggard's castle, they meet the Red Bull. The Red Bull nearly captures the unicorn, and inorder to save the her, Schmendrick manages to turn her into a human girl, whom he called Amaltha.
The unicorn, now disguised as a human girl, Schemendrick and Molly soon make their way into Haggard's castle. Amaltha poses as a Princess, Schmendrick ends up being Haggard's trickster/fool and Molly becomes the castle cook.
They soon discover many secrects in the castle, and find the Red Bull along with what had happened to all of the other unicorns. Schmendrick turns Amaltha back into a unicorn, then she faces off against the Red Bull in a fight that will determine the fate of the unicorns.
There is a lot more to this story; Schmendrick's story; the town of Hagsgate and the story of Prince Lir; Haggard's poor knights; the talking skeleton; why Haggard was using the bull to capture the unicorns; and of course the love story between Amaltha and Prince Lir. If you want to know what happens, and the rest of the story, go find the book, by Peter S. Beagle, I'm sure you'll enjoy it! :)