Once upon a time, long long ago, in the days when good stories were far more beautiful and far harder to come by, a king was asked by his spoilt but beloved princess daughter to give her a fairy tale. In answer to her request, he bestowed upon her a mysterious golden toy. Below you will find a perfectly faithful reproduction of it. Like all good princesses, she played diligently with her new plaything, until she revealed the tale it contained, a magnificent story of all-encompassing revulsion and allure.
Can you discover the fairy tale in the image? You will find there both the title of the story and the key plot point.
The fairy tale is not, of course, hidden in the png file itself, but rather in the thing which it represents, and this quite exactly. It should, for instance, be possible to build a physical version of the toy from which the solution might be obtained; no part of the toy is irrelevant to this solution.