First Dream: I'm in a mansion. Some kind of fairy/folk-tale competition is taking place, with ludicrous challenges to win a prize; it's probably a princess, but at other times it's something magic or a pirate's treasure chest.
The competition(s) makes no sense. One challenge I remember is a room full of contestants, and someone holds up a lemon. "This is a lemon" he says. We all stare at it. After a moment he says "Good". In another challenge, I'm in a room slowly filling with water and I have to do something. I'm not panicing at all, even though I have no idea what I'm supposed to do. But then it's not me, and I'm watching, and then I'm not watching anymore either.
Second Dream: A play is taking place in a hall, that later is a courtyard, of a junior school. Many of my friends are taking part in the play. It's suggested that the play is The Princess Bride although it clearly isn't. A swordfight takes place. The Princess spends an entire scene rolling on the floor, naked but covered in white makeup. Her acting is excellent. A stand-up comic does a scene. Many speeches are made.
I find myself outside on a lawn, on a warm summer's evening. We're gossiping about our friends who were in the play. Someone notes that it had needed to be toned down for the schoolkids. Apparently it made a lot of money for the school. The actors, despite giving extraordinary perfomances, can't get work, partly it seems, because they only play that one role.
 For reasons of dream logic only, she reminds me of an actress I saw playing Ophelia in Hamlet about 17 years ago, and fell three-quarters in love with by the end of the play.