While traveling in Auvergne, two young women, Anna and Françoise, unwillingly venture into the realm of Morgane, the Fairy Queen. Now, to go on living throughout the centuries, Morgane must obtain the souls of the ladies who cross her kingdom. To those who accept her pact she gives eternal youth and beauty. As for the ones that object to it, she lets them rot in the dungeons of the castle.

Mexican revolutionary Pancho Villa (Antonio Banderas) finds himself without adequate funding to finance his war against the military-run government. He also finds himself at odds with the Americans because of the Hearst media empire's press campaign against him. To counter both of these, he sends emissaries to movie producers to convince them to pay to film his progress and the actual battles.