The story is about a Johnny cake that comes to life and runs away from the people making it. It outruns many characters like workers, a bear, and a wolf that try to catch it. Eventually the cake encounters a fox that pretends it can't hear the cake bragging about outrunning the others. The fox tricks the cake into coming closer so it can eat it, ending the cake's escape. The summary highlights the key events and characters in a concise yet informative way.