If you've never read "The Hobbit" and you want a quick run through the plot, I've found it in the form of "A Book A Minute" ultra-condensed by these guys. And if you have read it, this should make perfect sense.
Ah, now for some peace and quiet. Oops, someone's at the door.
We're dwarves. I'm the merry one.
I'm the happy one.
I'm the young one.
I'm the other young one.
I'm the funny one.
I'm the joyous one.
I'm the cute one.
I'm the jolly one.
I'm the silly one.
I'm the one with the funniest name.
I'm the one with the looniest name.
I'm the fat one.
I'm the one with a distinct personality.
Now that you're all here, let's go on a quest.
(They get captured by TROLLS, and it is DANGEROUS, because they almost get EATEN. Then they get captured by ORCS, and it is DANGEROUS, because they almost get EATEN.)
What have I got in my pocket?
I don't know.
(They get captured by SPIDERS, and it is DANGEROUS, because they almost get EATEN.)
I'm an evil dragon. Hiss hiss.
(Bilbo Baggins turns INVISIBLE, and then some obscure co-star SLAYS the dragon, and it makes a MESS.)
I'm going home. Peace and quiet, here I come.