The episode begins with Wanda telling Cosmo and Timmy about a big day. Timmy misinterprets it as her talking about the release of his favorite smartphone game, Hillbilly Road Rage. However, she's actually talking about her and Cosmo's anniversary. She leaves to go to the Fairy Mall to buy a gift for Cosmo.
Timmy's Dad then comes up to the window to tell him Chloe is coming to see him, and that he's using the money that he got in the previous episode to become a superhero with a jet-pack and a helper monkey named Chazz. Chloe eventually gets to the room to ask Timmy if he can help her clean the ocean during her one hour of unstructured time, but he wants to play the game instead. The game gives Cosmo the idea to whittle Wanda an anniversary present. The game is interrupted by Catman calling Timmy to invite him to his 50th anniversary as a superhero, but he doesn't want to go, knowing that Catman is crazy and dangerous, and trying to warn Chloe about him. However, Chloe accidentally wishes they would both go anyways.
At the party, Catman mistakes Chloe for his old partner, Catgirl, and when he thinks Timmy is missing, he sets off to find him. Timmy, however, just went back home after seeing Catman act crazy around Chloe. Catman uses a wooden statue left behind by Cosmo as a clue, and assumes Timmy was taken by a super villain called The Whittler. Chloe tries to explain to him she isn't Catgirl but he doesn't listen and she gets pulled along for the ride.
In the town, they come across Timmy's Dad and he joins their superhero team. Meanwhile, Cosmo, still trying to whittle an anniversary gift, accidentally whittles a statue of himself whittling a statue of himself. He throws it outside and it hits Timmy's Dad. Timmy asks Cosmo to take him away again and Catman sees, thinking he disappeared like magic, which leads them to call Mr. Crocker to help, who is using his superhero identity, The Falcon. They meet him at the Cake 'N' Bacon and he realizes from the statue that they are dealing with a fairy. He takes out an invention, the "Fairy Sucker Upper" and uses it to track Cosmo to Timmy's tree-house. Chloe tries to warn Timmy of the danger, but he doesn't listen, saying he knew something bad would happen then hanging up on her.
Eventually, they all bust into the tree-house, and Crocker almost captures Cosmo, but Chloe pushes him over and he gets sucked into his own machine, causing it to explode and making everyone fly out of the room except Cosmo and Timmy. Wanda comes back right after, and Cosmo gives her one of his failed attempts at making her gift. But, the explosion caused it to break apart into a heart with their initials on it, which she loves. Wanda, in turn, gives him two pinkie rings for them both to wear. When put together, they make a heart.
Chloe climbs back in and after Timmy jokes about her ordeal, she says that she didn't regret doing it. Then, Catman climbs in and wishes they could fight crime like that all the time. Again, Chloe accidentally wishes for the same and the episode ends with her, Catman, Timmy's Dad, Crocker and Chazz on Catman's scooter, riding off into the horizon before a car crashes into them, ending the episode.