If there was a plot, it would simply be the voyage of a small dog (apparently named Spanky) walking around the coastline near a home or cabin, apparently to the pier and back.
As far as "sort films" go, there is not much to see here. No plot, no dialogue, no human characters. This is the sort of thing that could work in a museum as a visual showcase, but not the sort of thing people would rent from the store or tell their friends to see. It is much more like a painting, where you watch, look for four minutes, and then interpret. Is there much to interpret here? No. But sometimes art is beautiful in its simplicity.
This is not the strongest way to show Guy Maddin's talents, but perhaps not the worst way, either. It still has its merits.