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An energetic and self-confident little girl Mimiko lives in her grandmother's house with a small panda and his giant dad. However, this inseparable family receives an unexpected visitor in the form of a small tiger. He came to them from a nearby circus, where they are already looking for him. To add to the vicissitudes, heavy rain turns the whole area into one big lake made for boating.
Many years before they founded the renowned Studio Ghibli together in 1985, the masters of world animation Hayao Miyazaki and Isao Takahata formed a well-coordinated creative tandem. The infectiously cheerful and playfully childish title Panda and the Little Panda is one of the highlights of their early collaboration. Miyazaki is credited as the author of the story and screenplay, drawing the key images and creating the characters and the setting, while Takahata managed everything from the director's position. The film foreshadows a number of elements and style of Hayao Miyazaki's future work – the big panda shows many similarities to the legendary Totoro, and the motif of the flooded landscape was subsequently developed by the famous filmmaker in the film Ponjo from the cliff above the sea.