Plankton uses the bottle to make Mr. Krabs believe that it is a genie bottle as Plankton puts the bottle right in front of Mr. Krabs' house. Krabs instead kicks the bottle straight to the Krusty Krab.
SpongeBob later tells Mr. Krabs that he is going for his lunch break. SpongeBob then walks to his house while playing with the bottle, which tortures Plankton. He then shows Gary. As SpongeBob finds out the bottle is magic, he rubs the side of the bottle for a genie to come out. Eventually, Plankton comes out of it and attempts to trick SpongeBob to take him to the Krusty Krab, while SpongeBob does not realize it is actually Plankton.
SpongeBob asks Plankton to make a wish for three of his friends, including Squidward, Patrick, and Mr. Krabs all in order. Plankton grants all three of those wishes and all three are astonished by the bottle. All three of Patrick, Squidward, and Mr. Krabs try to fight over the bottle, as they believe it is real and all try to possess it so they could get three more wishes.
SpongeBob comes up with the idea of spinning the bottle and whoever it lands on, it is theirs. It at first lands on Squidward, but Plankton inside rolls it to the left side to Mr. Krabs. As Plankton gets dizzy, he cannot take it anymore, as he admits the genie was him all along and cannot keep up the charade anymore.
The real genie appears and is angry at Plankton that his bottle got damaged while under his care, but Plankton and Mr. Krabs care less.
While Plankton tries to open the Krabby Patty secret formula, one of the ways he tries to do it is by pretending to be a genie and opening the cap by command.