The tanuki challenged the rabbit to a life or death contest to prove who was the better creature. They were each to build a boat and race across a lake in them. The rabbit carved its boat out of a fallen tree trunk, but the foolish tanuki made a boat of mud. In other versions the rabbit built both boats.
The two competitors were evenly matched at first, but the tanuki's mud boat began dissolving in the middle of the lake. As the tanuki was failing in its struggle to stay afloat, the rabbit proclaimed its friendship with the human couple, and that this was the tanuki's punishment for its horrible deeds. In other versions the rabbit strikes the tanuki with his oar to ensure he sinks.
The rabbit then goes back to the old man's home and tell him about the vengeance, much to the relief of the old man. He thanks the rabbit for his deed.