Jake and his crew were sailing towards Never Land, when something on Shipwreck Beach caught their eyes. It was a small, wrecked ship, with a bird figurehead on the front. The young pirates thought it would be perfect for Skully, Captain Hook, who was nearby, laughed and said: "That pitiful pile of planks will never be a ship, it's barnacle bait." That made Skully feel bad, Jake and the crew decided to fix up the old ship and give it a new coat of paint.
Skully called his new ship; The Leaky Beak. When the crew let the sail loose, they a treasure map on it. The crew saw the map led to a treasure on Never Ever Peak Mountain, and was meant to go to Skybird Island. When Hook learned about this, he wanted the map sail, but to everyone's surprise; the ship had wings and could fly.
They made to Never Ever Peak Mountain and found the treasure.
When they brought it to Skybird Island, they saw Princess Winger and the Wise Old Parrot. Wise Old Parrot told Skully that he use to own the Leaky Beak. Suddenly, Hook and Smee came up and stole the Leaky Beak. But, Hook accidentally hit the switch, that opened the wings, and ship was falling. It was an emergency, so Izzy used pixie dust; to fly up to the Leaky Beak, and flip the switch back. When they opened Wise Old Parrot's treasure, it was a whistle to call the guards of Skybird Island. Upon the whistle being blown, the Parrot Guards lifted up Hook and carried him away. Then, the Wise Old Parrot told Skully that he was giving his old ship (the Leaky Beak), to him.
- This marks the first episode that Cameron Boyce becomes the permanent voice role of Jake due to a change in Colin Ford's voice.
- Jake and his crew gather ten gold doubloons.
- The episode also revealed Skully always wanted a pirate ship of his own.
- Cameron Boyce as Jake
- Madison Pettis as Izzy
- Jonathan Morgan Heit as Cubby
- David Arquette as Skully
- Corey Burton as Captain Hook
- Jeff Bennett as Mr. Smee
- Loren Hoskins as Sharky
- Jeff Bennett (speaking)/Kevin Hendrickson (singing) as Bones
- Lisa Loeb as Winger
- Adam West as Wise Old Parrot