While Jake and his crew are playing volleyball, Cubby discovers a large wooden elephant. This was to be a gift for Jake and his crew, but Captain Hook and Smee are hidden inside the elephant. The two scoundrals take off with the crew's treasures after the three put the elephant in their treasure room and leave for lunch. When the pirate kids find that the wooden elephant is rolling away, can they catch up to it and get all their treasures back?