When Jake picks up a ship-in-a-bottle, he releases a magical pirate genie, much to the surprise of the young pirates, as they could not wait to make wishes of their own. But as Pip attempted to make their wishes come true, he would accidentally conger up frogs, as his magical powers were running out. He knows of a location in Never Land called the Treasure Wishing Well in order to restore his powers. While on the hunt for the well, Pip is asked by the young pirates what he would wish for. Pip admits he would wish for a ship of his very own so he could sail the Never Sea. However, genies cannot grant their own wishes. During their travel to the Treasure Wishing Well, Pip's ship-in-a-bottle gets stolen from Jake and his friends by Captain Hook and his scurvy crew. When they soon realized that Pip cannot grant wishes as he was, they continued onward to the Valley of Nowhere to find the Treasure Wishing Well to restore Pip's powers.
With Pip's powers restored and his ship-in-a-bottle still in Captain Hook's grasp, he had no choice but to grant Hook's wishes. While bickering with his crew, Hook's words were taken literately by Pip, transporting Hook and his crew back to the Jolly Roger, wasting Hook's first wish. Captain Hook orders the rest of his crew to make wishes on his behalf. Hook's second wish (Bones') was to fill his ship with lots of gold, but this was short-lived as the pile gold made the Jolly Roger too heavy, forcing Hook and his crew to abandon ship as all the gold spills over from Hook's ship and into the Never Sea. Hook's third wish (Mr. Smee's) was for a treasure chest full of gold in a location safe from both puny and thieving pirates, but much to Hook and his crew's horror, the location Pip transported them to was Crocodile Creek, where Hook and his men are chased from the creek by Tick-Tock the Crocodile.
For Hook's final wish (Sharky's), he got a mountain of gold, but in the end, Hook's greed does him in. He causes a golden rock-slide when Hook slams his Pickaxe-Hook into the mountain, sending Hook and his crew falling to their doom. Luckily, Jake and his crew were sailing nearby to find Pip and decided to help. Izzy uses her pixie dust to rescue Hook and his crew, but unfortunately, the model ship inside Pip's ship-in-the-bottle was damage in the process. Jake and his crew return to Pirate Island with Pip, who could not wait to grant his young friends their wishes, but Jake and crew decide to grant Pip a ship of his very own. The now-free genie thanks the young pirates before setting sail from Pirate Island.