A wonderfully clever little moral play......You know the plot, so there's no need to go into that aspect.
The reason it's considered "lost" is because of the non "politically correct" themes therein. The last time I saw it on TV in the early 90's it'd been so heavily edited that there was virtually nothing left of the film.
It's a pity really, because it's well done and very cleverly executed, what a shame!
If you can find a copy (Likely on the Cabin Fever or Hallmark label) watch it and have a ball.
Sadly the film "Kid From Borneo" met an even worse fate....Until the advent of DVD's it'd disappeared completely from the airwaves.