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| - At the same time, up in the heavens, a blacksmith by the name of Thor is giving a young orange pegasus his first set of horseshoes, which makes his customer so excited that he wants to try them out. His mother tells the young pegasus, Blue Eyes, to just not wear them out. Thor promises Blue Eyes' mother that gold nails and gold shoes will last until the pegasus becomes a colt, which the mother says won't be for a long time. Soon Blue Eyes is ready to go to school, but before he heads off, his mother warns him to go directly to school and back, and also not to slide down any rainbows, for they lead straight down to Earth, and Earth is not a safe place. Blue Eyes wonders why he can't go down to Earth since nobody there will see him, but his mother refuses to explain and simply tells him to go straight to school. Down on Earth, Gargamel is in his hovel complaining about the nails in his shoes, which are now squeaking and making his feet feel uncomfortable. He says that the Smurfs will now hear him coming because of his shoes, and gets so upset with them that he hurts his foot kicking the table in frustration. He wishes that he had a few pennies on him so that he could buy himself a new pair of shoes, and so he decides to write his godfather Lord Balthazar a letter to ask for a loan of a few pennies. As he writes the letter, Gargamel imagines what he would do with the nails in his old shoes, and says that he would sprinkle them in the forest in the hopes that the Smurfs will hurt themselves. Lord Balthazar receives the letter and scoffs at his godson's request for a few pennies, answering him back in a reply that makes Gargamel wonder where he got the idea that pennies grew on trees. While Brainy gives Smurfette his critical analysis about her new shoes which results in his usual catapult onto his head before she goes off into the forest, Michael the leprechaun goes up the rainbow into the heavens with his pot of gold, stopping to wipe his brow and say that soon he will reach the top and then he could slide back down the other side. Blue Eyes stops by the rainbow on his way to school and looks at it, wondering what it must be like down on Earth when he sees Michael arriving. Blue Eyes asks the leprechaun what it's like down on Earth, and Michael says that it's most interesting before he bids the pegasus farewell. Blue Eyes looks at the rainbow and decides to take the risk of sliding down it so he could see what it's like on Earth for himself. Smurfette soon finds a patch of shoe flowers that she can pick for Cobbler Smurf and starts gathering some for a bouquet when she hears somebody falling into a tree nearby. She looks and sees an orange horse with wings who calls himself Blue Eyes. She says that she has never seen a talking horse before, or even a flying horse before. As the pegasus comes down to talk to Smurfette, he feels a pain in one of his hooves, and then he realizes that he lost one of his shoes. Smurfette tells Blue Eyes that she will go to look for the missing shoe, telling Blue Eyes to stay where he is so she could get Papa Smurf. Blue Eyes tells her to please hurry because he will now be late for school. On her way to the village, Smurfette runs straight into Brainy and Clumsy, who are now walking out into the forest with Brainy sharing his thoughts with Clumsy. Smurfette tells them about the horse with wings she has found in the forest, and Brainy tells her that she must be imagining things. Smurfette is disappointed that Brainy won't believe her, so she says that at least Papa Smurf will believe her. Brainy tells Smurfette that Papa Smurf isn't even in the village at this time, which leaves her with having to accept the help of Brainy and Clumsy, the latter of whom is more willing to give his assistance than the former. Unfortunately, Gargamel is already there at the spot where Blue Eyes is, with Azrael seeing the small pegasus and hissing at it while the evil wizard is singing a jolly song in the midst of collecting shoe flowers. Blue Eyes soon gives Azrael a kick and launches him right onto Gargamel's head, causing him to fall into the prickly shoe flower bush. As Gargamel painfully picks every thorn out of his body while cursing at Azrael, his attention is suddenly diverted to a small gold horseshoe lying right next to him in the bush. He tests out the shoe and sees that it is made of real gold, which now makes him so happy that he walks off with his newfound treasure, unaware that the shoe's owner is watching him walk off with it. Smurfette returns with Brainy and Clumsy to the spot where she found Blue Eyes and now finds that he is no longer there, which only seems to confirm in Brainy's mind that there was never a talking flying horse to begin with and that Smurfette was simply imagining things. Clumsy says he believes Smurfette, which makes Brainy wonder why his friend would accept Smurfette's word about what she has seen rather than his. But then they hear another horse coming, and they see that it is Lord Balthazar riding through the forest on his mount, on his way to meet with Gargamel, who at this moment is looking through a book to find out where the gold horseshoe came from and finds a legend in it about the pegasus. Meanwhile, Blue Eyes is trying to get Gargamel's attention to give him back the shoe, but only Azrael sees him up on the roof on top of the chimney and climbs up to get at the little horse. Blue Eyes kicks the cat away, and he lands in front of Balthazar's horse, startling it and causing it to throw off its rider, who lands in a puddle outside Gargamel's hovel. Balthazar arrives at the door soaking wet, demanding to know what his godson is hiding behind his back right at that moment. Gargamel reluctantly reveals the gold horseshoe that he has found, which peaks Balthazar's interest. Back in the Smurf Village, Smurfette explains the horse she has found in the forest to Papa Smurf, who patiently listens to her and doesn't dismiss the possibility that she may be telling the truth. He tells her that if she did find such a horse, then she is a very special Smurfette indeed, for blue-eyed horses with gold shoes come from the land of Myth, and no one can either see or hear them. Smurfette says that she did, and Papa Smurf says that he truly believes her. Meanwhile, Lord Balthazar and Gargamel talk about the gold horseshoe that was found, with Gargamel wondering about its origin. Balthazar doesn't believe in myths, but rather says that it must be part of a set that came from the toy of a rich owner, and that they should set up a trap to capture who the shoe belongs to. Blue Eyes realizes that he needs Smurfette's help in order to get the shoe back from the evil sorcerers, and so he heads for the village, arriving there at night when Smurfette was staring up at the sky and wondering if she had really seen a talking flying horse. The sound of his whinnies confirms in Smurfette's mind that what she saw was real, and so goes to the door to take care of her mythical friend, unaware that Brainy is watching her from the window and thinking that she must be going crazy talking to herself. Blue Eyes explains that Gargamel and Lord Balthazar have his shoe and that he needs to get it back because he's now missing school and his mother will be worried. Smurfette offers to help Blue Eyes find his way back home, though the only thing she asks of him is that he could give her a ride. With Brainy watching from a window, Smurfette takes off flying on the back of her invisible horse friend over the entire forest, seeing everything that there is in the forest, flying through Homnibus' hovel and greeting Clockwork Smurf as they pass over King Gerard's castle. By morning, as Brainy tells Papa Smurf about the "dream" he had of seeing Smurfette flying, she and Blue Eyes are at the Great Oak Tree where they see the gold horseshoe sitting out in the open in the center of the shoe flower bush. They go over into the bush to pick it up, only to be scooped up in a net set up by Gargamel and Lord Balthazar, the both of whom are happy to find out where the gold shoe came from. A ransom note was sent to Papa Smurf, telling him to bring the gold horseshoes and not to tarry. The other Smurfs wonder what the sender of the note is even talking about, and Papa Smurf crumples up the note, saying that it doesn't matter and telling Harmony to call for an assembly. As Gargamel and Lord Balthazar wait for the Smurfs to reply to their message while Smurfette and Blue Eyes are held captive together, Thor and Blue Eyes' mother ask for Michael to go back down to Earth to help find her son. Michael complains about his shoes hurting him, but instantly Thor gives him more comfortable shoes to wear, which makes him more eager to help. He goes down the rainbow when it emerges after a rainstorm and sees Papa Smurf, Brainy, and Hefty at the Great Oak Tree where they stop with Feathers to look for Smurfette. Papa Smurf asks Michael if he has seen an orange horse with gold shoes, and Michael says he has, and that he has been sent to find him. Meanwhile, Smurfette whispers Blue Eyes her plan of escape, and soon with her crying about her shoes hurting her, she awakens Gargamel and Lord Balthazar from their sleep to tend to her annoying crying. Gargamel opens the cage, and suddenly he sees Smurfette flying out of there on something invisible. Gargamel tries to tell his godfather what he has seen, but he assumes that he's just making things up. Papa Smurf, Brainy, Hefty, and Michael arrive on top of one of Balthazar's towers afterward, with Michael walking down the castle wall to overhear the evil sorcerer talking to his godson about how he let Smurfette get away. He returns to tell the three Smurfs what he has heard, and so they fly back to the village in the hopes that maybe Blue Eyes has dropped her off at the village. As for where Smurfette is now, she is with Blue Eyes in the land of Myth as his mother is scolding her son, telling him he must never do such a thing again. The two of them tearfully say goodbye to each other before Blue Eyes' mother takes Smurfette back home, flying straight through a rainstorm until they reach a solid rainbow that she could slide back to Earth on. Smurfette asks if she would ever see Blue Eyes again, and his mother says she could give her a gift for saving her son, that she could give Smurfette some magic words to say that she must keep a secret and that could only be used three times: "Whenever you need a friend true blue, think of golden horseshoes and friendships true, then say, 'Blue Eyes, Blue Eyes, I need you.'" At the Great Oak Tree, as the three Smurfs are ready to see Michael off to return to the land of Myth, Smurfette arrives as she slides down the rainbow. Later on at night in the village, Papa Smurf tells Smurfette that if she does indeed has a secret, then she should guard it well, and if she knows any magic words, then she should use them wisely.
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