My daughter is three. This is her first story:
Once we went to steal the treasure from some pirates but they heard we were coming so did they did a big roar and scared us into a barrel. Then they went to our tree house and stole EVERYTHING. And we were stuck in the barrel which had lots of beasties in it. But then the beasties got out and the pirates were scared of the beasties, and they ran away. Then we took back all of our treasure, and all the pirate’s treasure, and we took it back to our tree house and made it tidy, the end.