Snoopy steals Linus blanket and hides under it. But he gets caught in his own trap.
When this short was first released on Cartoon Network's website, it was oddly edited. Instead of a different sequence following, when Linus first gets the blanket back from Snoopy, he takes the blanket, walks away, and says "Stupid dog." and begins sucking his thumb, followed by the regular ending of the shorts panning out of the comic panel and Schulz signing it.
The short was released in its full version later on on Cartoon Network's YouTube channel, albeit with the opening and credits cut out, and was later featured in the episode "My Blanket!"