A wicked witch captures the Rainbow Fairy, intending to exchange her for the unicorn's powers, which would allow the witch to be able to fly unseen without her broomstick! Kate, a friend of the fairies, comes up with a scheme to defeat the wicked witch. Kate and the fairies set a trap for the witch's goblin helpers, intending to trade them for the Rainbow Fairy. At first the plan fails, but then the unexpected happens, when the witch's goblin helpers turn into greenies. Will the wicked witch finally release the Rainbow Fairy?