Gypsy Colt was based on a story by Eric Knight, better known for his enduring dog saga Lassie Come Home. This time, a beautiful black colt subs for Lassie, undergoing all sorts of perilous adventures out of love for its mistress, little Meg McWade (Donna Corcoran). Living with her mother and father (Ward Bond, Frances Dee) in a drought-ridden farming community, Donna is dismayed to learn that her parents may be forced to sell her beloved colt to pay off their mounting debts. But the colt manages to escape its new owner, making a 500-mile journey back to Meg's waiting arms. Future spaghetti-western star Lee Van Cleef has a meaty supporting role as a dour groom.