Phebe is first mentioned when Corin and Silvius are discussing his unfruitful attempts to have her love him. Silvius does not listen to Corin's advice and runs off to find her.
When she is found, Phebe is furious with Silvius, hating him for pursuing her. She twists his loving professions back on him, and in the process reveals that she is rather self-concieted. Rosalind, disguised as Ganymeade, intervenes during Phebe's rant and tells Phebe that she ought to love Silvius for being so dedicated to her, advising her to "sell while you can", because she is "not for all markets". However, this does not work, as Phebe is immediately taken with her, begging her to stay and love her. Rosalind manages to escape before Phebe does anything drastic. After she leaves, Phebe is torn over her feelings for him, insulting him and then correcting herself. She finally reloves to write a "taunting letter," and has a willing Silvius bear it for her.
When the letter reaches Rosalind, she refuses to believe that Phebe wrote it, claiming that Silvius wrote it to ward her off. However, Silvius protests and convinces her of the truth. When Phebe appears later, she accuses Rosalind of doing much "injustice" to her, but still professes her undying love. Rosalind tells her and Silvius to come to the wedding ceremonies for Orlando, herself (though she still has not revealded her true identity), Celia, Oliver, Touchstone and Audrey. At the wedding, Phebe expects Ganymeade to appear at first, but then realizes that Rosalind is Ganymeade, and finally accepts Silvius' love. The two are married along with the other couples.