A boy named Timmy Turner ends up receiving two wish granting fairy godparents named Cosmo and Wanda, and he uses them to help him get even with his evil babysitter, Vicky.

Having been left alone with a demanding, "injured" Vicky babysitting him and using him as a servant, Timmy wishes up a bunch of clones to do his chores for him. However, when they scare Vicky out of her mind and chaos ensues, Timmy must wish them away.

While Timmy, Cosmo, and Wanda are playing games, Wanda's wand accidentally ends up with Vicky, who uses Wanda's wand as a prop for her fairy costume at her High School costume party, and Timmy must get back the wand since it is granting Vicky's wishes.

Vicky tries to get proof of Timmy having a party at his house while Mr. and Mrs. Turner are out.

Cosmo and Wanda have caught the fairy flu and whenever they sneeze, their magic effects everything around them. This is problem trouble for Timmy, who has been invited to a birthday party for Tootie, Vicky's younger sister. Tootie, unlike her sister, is madly in love with Timmy, worsening the situation.

Cosmo and Wanda must go to the Fairy Academy to have their Godparenting License renewed, and their drill instructor is the toughest fairy in the universe, Jorgen Von Strangle. While they are absent, Timmy gets a substitute godparent, Jeff, who can only make toys; it turns out that Jeff is a runaway elf from the North Pole.

Timmy, Cosmo, and Wanda are nominated for a Fairy World award show, but Jorgen Von Strangle, the toughest fairy in the universe, uses his power to "persuade" the judges; in a subplot, Timmy's left buck tooth is loose.

Cosmo and Wanda try to help Timmy capture Bigfoot to earn his Squirrel Scout badge in capturing a mythical creature.

Timmy wishes to be a superhero like the Crimson Chin, and tries out various powers, ultimately getting into battle with a three-headed monster. At the end, however, he wished for "super-vision" and he ended up back home with his parents ("supervision").

According to "Da Rules" once every few thousand years a fairy must act bad for a day and it's Cosmo's turn.