It's a parody of some Grimm fairy tales, the names of which escape me. Usually the animals would return to them to help in the nick of time, such as the deer bringing the hunter apples, or the hare bringing him carrots or other root vegetables. But since these are Oglaf comics that won't happen. (or they would have had weird, kinky sex)
I can remember one story where a girl has to spin stray into gold for this king b/c her dad boasted she could do it, so every night these ants would come in and do it for her, otherwise she would get her head lopped off. In that story she didn't do the ants any favors as far as I can remember, they were just nice, I know there must be a supporting story this comic may be parodying though.
Pretty sure thats like the "censored" version, sirpatrickiii got the normal one. Some guy (basically a small human, something like a gnome) helps her in return for first 2 accessories and later on her first born child (as soon as she gets one). The king would execute her the first 2 times (and probably the 3rd aswell) as long as she wouldn't produce the gold and in the 3rd one he promises that she may marry the prince if she gets the gold. Later on when she is getting the child that guy says she'll be allowed to keep it as long as she figures his name out. Someone who finds his place where he sings a rhyme including his name (Rumpelstilzchen in german) tells her about it. She tells Rumpelstilzchen his name and he tears himself apart.
My reply goes out to sirpatrickiii too, but I had a feeling it was Rumpelstiltskin I was thinking of because I immediately searched that story out in both of my Grimm story books, when i did find it though I thought "that can't be right, there's no reason to connect the two". If I had instead thought, "How was it the king and queen became indebted to him?" Then I might have read it and been reminded.
Thanks you two!