While "Fable" (寓話) is a somewhat ambiguous Japanese title, it essentially refers to a "fairy tale" that is not a real-world story. This piece is also in ternary form. The remarkably simple four-bar melody, also in C major, conveys a very innocent and pure impression. In contrast, the sixteenth-note motif features accents on weak beats at key points, resembling a playfully bouncing child. The middle section shifts to a minor key, and a melody emerges from repeated chords. The ascending passages in both hands are somewhat elusive, reinforcing the impression that this is indeed a "fable."