Elmo and Alan are reading in Hooper's Store, when the storefront is boarded by a group of Bookaneers. An Anything Muppet and a salty dog are led by their pirate captain, played by guest star Tina Fey. They demand that Elmo hand over his book, but Elmo explains that he loves to read. The pirates invite Elmo to become a Bookaneer, but he must first pass a series of tests. After pointing out three words that start with F while dancing a jig, and saying the alphabet with a squid, the Bookaneers set Elmo on a quest with a treasure map. Following a short trip down Sesame ...
Wanda the Word Fairy (Andrea Martin) visits Sesame Street to demonstrate the meanings of certain words; a pair of flowers sing a song about how they came to be; Kermit tries to give Little Red Riding Hood directions to her grandmother's house (but she's preoccupied); the TwoHeaded Monster needs a new pair of shoes; and Bert tries to track down just who is playing his favorite instrument, the tuba, in the park. This was brought to you by the letters C and P, and the tiptop number 3.
Elmo lets Big Bird ride his tricycle, but as soon as Big Bird sits down on it, it breaks! Elmo is sad about his broken tricycle and Big Bird feels bad because he didn't mean to break it. Gordon helps them both feel better by reminding them that they can take the broken tricycle to the Fix-It Shop!
Big Bird and Elmo sing a special song that only two friends can sing together. As they get ready to sing the song again, Abby appears. She asks if she can sing too, but Big Bird realizes they can no longer sing their song about two friends because they are no longer two friends- two friends plus one friend makes three friends!
Telly finds Gordon practicing outside for a game of golf he is going to play with Alan. When Telly learns how golf is played, he decides that if Gordon really wants to practice he should do it as if he were on a real golf course.