Mr. Feeny announces to the Matthews family that he intends to give up ownership of his cabin in the Poconos Mountains after realizing that he has no use keeping it any longer. His public announcement may work against him when Shawn and Cory plan to secretly sneak up to the cabin without their parents' knowledge for some skiing and "snow bunnies".
Once the boys get there, they soon learn that there is no running water or electricity. Making matters worse, Mr. Feeny shows up to pack up his belongings. He quickly informs the boys that there is only 1 bed, and offers to flip a coin with Shawn for it. Behind Mr. Feeny's back, Cory and Shawn accidentally lose a valuable watch, and then learn why it is so special to their teacher. They spend the whole night digging through the septic tank to retrieve the watch.
In the end, Amy and Alan are very angry about Cory and Shawn's hide-out plans. But, ultimately, it is Mr. Feeny who bails them out of trouble after he comes to realize that he and Shawn have much more in common than they would have thought.