Emma and the Tooth Fairy is about a young girl who has her first loose tooth. She is afraid to pull it out, so she decides to leave it in her mouth forever. Emma has a big surprise when her tooth comes out unexpectedly.
Emma puts her tooth under her pillow for the Tooth Fairy to trade for some money. She is concerned about the different amounts of money other children have gotten for their teeth. She feels that it's unfair that some kids get more money than others. She looks to her mama for some answers about this problem.
During their nightly bedtime story, Mama tells Emma and her sister, Abby, about her own experience losing her first tooth. The girls learn that they aren't the only ones in the family that have had problems to deal with. The girls discover that their experiences are very similar to the ones that the other members of their family have previously encountered.