"The Paper Bag Princess" is a children's book written by Robert Munsch and illustrated by Michael Martchenko. The story follows a clever princess named Elizabeth who is set to marry a prince named Ronald. When a dragon captures Ronald and destroys her castle, Elizabeth decides to rescue him. Instead of wearing a fancy dress, Elizabeth uses a paper bag for clothing and outsmarts the dragon. After saving Ronald, she discovers he is ungrateful and shallow. The story concludes with Elizabeth realizing she deserves better, promoting themes of independence and self-worth.