This movie is an adaptation of a book by Rodari, a famous Italian poet and writer of children literature. A group of children in the outskirts of Rome ("Trullo" neighborhood) bumps into a spaceship that landed nearby. Soon the event draws the attention of the media, the military and rich entrepreneurs. The spaceship is pointed as the evil to fight against by the authorities, and nobody trusts the kids, who on the other hand try to preserve the spaceship (which is actually a harmless space-cake).
The lovers of Italian cinema of the 70's will like this movie at once: it is clearly a low-budget production, and pretty "rough" too, but it is full of good ideas and points. The depiction of the strong powers and television is often funny, grotesque, and always severe. I believe that a movie like this, if done today, would be almost certainly censored; and it's hard to grasp that this one is already 35 years old.