This film is an animated version of "Buratino", book that was written by a Russian writer based on "Pinokkio". No offense to the original, but I personally and many people I know prefer "Buratino" to "Pinokkio" that has rather grim and moralising mood. Buratino is a story for the children without the "finger shaking". Characters - puppets are fighting against their evil owner Karabas Barabas and his henchmen - leech collector Duremar and a pair of swindlers - a fox Alice and a fake blind cat Bazilio.
Phrases from the book and this film have turned into a sayings in former USSR. For instance dubious dealings that promise instant fortune are called "the Field of Miracles in the Land of Fools". Another phrase is the one that's uttered by the fox - "money, Bazilio, likes the counting". Film has wonderful music and song lyrics.