Directed by Swift and Drew Kirsch ("You Need to Calm Down"), the video begins on Christmas day with a girl receiving a snow globe containing a miniature house. The viewer is then sucked into the world of the snow globe, revealing the tale of Swift and her lover, played by dancer Christian Owens.
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The camera shifts from room to room, each one having its own monochromatic color scheme and story line. There's the green room in which Swift rocks dyed tips in her hair and plays the drums, the yellow room where the two play board games with Swift's cat Benjamin Button, a blue bathroom complete with a life-size fish bowl and an attic where the couple reminisces by watching home videos -- the same featured in the "Lover" lyric video -- on a makeshift screen.
Playing off of the lyric "This is our place, we make the rules," Swift and Owens dance through the ups and downs of their relationship, their emotions often corresponding to the colors of each room. In the end, the video zooms back out of the dollhouse to reveal that the girl is the couple's child -- warming hearts everywhere.