Molly and Gil become assistants to "The Amazing Daisy," a magician, and promise to help her out in her big magic show that night. Molly and Gil tell their fellow Guppies all about it and they learn all about magic and illusions.
Molly introduces herself, and attempts to say "it's time for Bubble Guppies!". She stops as she hears someone, and sees Gil waving his wand with his hat. Then she asks the viewers what Gil is pretending to be. Gil was a magician. Gil's magic isn't really good and he keeps messing it up. Molly tries to say "it's time for Bubble Guppies!", but then the Little Fish scare Gil off. Then Molly then says, "It's time for Bubble Guppies!"
After the Theme Song Molly and Gil ago to school and they see a magic show going on, they decide to get invovled. A woman introduces herself, then she pulls a Bunny out of her hat. putting it back inside, she tells the audience she needs two assistants and so she picks Molly and Gil. She then asks them to hold a curtain up and explains her trick of making herself dissapear. Gil and Molly say Abracadabra and she dissapears! The audience then leaves as Gil and Molly try to find out where Daisy is and Gil gets very fustrated and confused.
Molly explains that she didn't disappear, she only makes it look like she did. Daisy explains that its called an "illusion" to perform Magic. When Molly wants to become a magician, Daisy asks them if they want to be her assistants for the evenings special magic show and they agree! Daisy then puffs out of sight and Molly and Gil leave for school.
Upon arriving, they explain that they are to be Magicians assistants that night and they begin to discuss how Magicians work. Like using a Magic Wand to cast spells, and how most wear a hat to do magic with and they usually hide Bunnies in their hats. Then Gil sings Abracadabra!
Goby wants to do a Magic trick so he goes to the magic store run by Deema! She goes in order and tells him he will need a top hat and she asks if he'll want a bunny filled hat, or one without and he chooses a hat with a bunny. So she uses her magic to make one appear! She greets Bunbun, then sees a whole bunch of bunnies pop out and run off. Deema needs one bunny in each hat so they ask the audience to help them capture the bunnies and put them back into their hats. So once Deema manages to give Goby his hat, Mr. Grouper then comes by to announce its Lunchtime.
Molly talks about how good making things disappear and reappear are good magic tricks when Gil comes over to show her. But for some reason the trick doesn't want to work, so he keeps trying until Bubble Puppy pops out and startles him!
In class Nonny is performing magic and he picks Goby to perform a trick with him. He makes Goby vanish and Oona was upset that Goby is gone and asks where Goby went. And Goby disappeared then Oona hugs Goby 2 times. So they reveal he didn't really go anywhere, but it was an illusion to make it look as if he really did vanish! They then go outside!
Oona and Deema play the roles of two royal magicians. It was their jobs to perform magic for the king (played by Mr. Grouper), who explains that he needs to make something disappear. The reveals they need to make a terrible creature go away, a terrible, mean, foul creature that scares the king! They try to be nice to him, to make him disappear but he gives chase instead! They try to go up a hill but its too steep and the magicians box flies down the hill and into the water!
So the two girls now must put their box back together and try again to get the nasty creature to get inside. Upon hearing him returning, they hurriedly put the last panel on and Oona quickly tells him they need to do one more trick. Deema performs the trick, and by making the creature look into the mirror he thinks one really is stuck inside and he runs off! Deema and Oona are happy, but they hear him crying and find him hiding under the bridge where he explains he didn't mean to scare anybody, he just wanted to perform magic too. And so, they make him their assistant. And they all lived happily ever after..
Afterwards, Molly dances the Wand Dance, along with Nonny, and Gil
Molly asks Gil if he's still trying to pull a bunny out of his hat and he stares in surprise when he actually thinks its working... only for Bubble puppy pop out to scare him!
At the Magic Show, Daisy asks Molly and Gil if she is ready and she explains to them what they will do as their part of assistants. So, they reveal what the magicians will make disappear: An elephant! A swami, the first magician comes out and tries to make the elephant disappear but it does not work. As Daisy begins to worry that she can't do this now, Gil presses a button and Daisy vanishes!
So the second magician tries, he too fails to do it though and leaves the stage. So now, its Daisy's turn but they can't find her! Daisy suddenly talks to them through the floor, explaining that Gil must have hit the button to make the secret door sink down. Molly tells her they can't do magic but she tells them just to believe, and that its just an Illusion, its not real. She reminds them to hurry and Molly tells Gil to wait until she says the secret word, then push the button. Molly explains what she is doing and she asks the Elephant to follow her. She asks for the curtain and Gil pulls the curtain. Molly then tells the audience to say Abracadabra with her and Gil pushes the button!
Upon reveal, Molly has made the Elephant vanish! Everybody cheers for both Molly and Gil as Daisy, the Elephant, and the other Magicians come on stage as the episode ends...
Molly thanks Gil for being her assistant and he tries again to make the bunny pop out of his hat yet again... he thinks its working when he sees Bubble Puppy next to him and realizes that he isn't in the hat, so he thinks a real bunny is in it instead. But its then an elephant nose slowly creeps out with the pair of bunny ears on the end of it. By the time Gil realizes its not a bunny he gets blasted away!