"Fool's Gold" is the thirty-second episode of American Dragon: Jake Long.
Jake and his friends are enjoying a relaxing evening at the arcade. He and Trixie are one-on-one at air hockey, while Spud watches them. Just as they are close to wrapping up the game, Brad Morton comes by and does it for them. He charges in, demanding him and Trixie to leave so he can play air hockey with his hotties. Jake agrees to do so, but only if he can beat him. However, when Jake goes over to get money from the cash machine, it won't accept his only dollar bill. Humiliated, Jake leaves with his lonely one-dollar bill.
Heading home, Jake is angry that people like Brad get a million times his allowance, and wishes there were some way he could get cash like that. Suddenly, he crashes into a clan of Leprechauns being chased by some Hobgoblins. Jake scares away the goblins, and the Leprechauns introduce themselves. To thank him for rescuing him, the leader of the clan, Brocamas, gives Jake a golden coin, and tells him that if he ever wants to see a real pot of gold, he should just follow the rainbow.
Later on, Jake is excited about his Leprechaun gold. But Gramps tells him that many people end up doing foolish things in the pursuit of Leprechaun gold, and advises him to give it back. But when Jake takes it to school, everyone is awed at his shiny gold coin. Jake figures that with just a little more, he could rule the school. But after class, Jake notices something weird about his coin. When it shined in the light, a rainbow path appears in the air. Jake remembers Brocamas' advice to follow the rainbow, so he dragons up and follows it.
The rainbow takes him to Pot O' Gold, Imports and Exports, where Brocamas and his clan are running from a Giant terrorizing their shop. Jake uses his smarts to get rid of the giant. Brocamas goes up to thank him, and offers him a job for protection, adding that he will be paid with lots and lots of gold. Jake can't resist his offer, and by the next day, Jake's outfit turns into a gold track suit with gold highlights in his hair and a golden scooter.
While Fu and Gramps search the internet for information about the Aztec Crystal Skull, Jake keeps his new job from them both. During all of this, he, Trixie, and Spud celebrate to the fullest with all the gold he has earned.
After a while, Brocamas sends Jake on a secret mission down into an old Hobgoblin treasure cave. A client of his is interested in a chest located deep inside the cave. Taking Trixie and Spud, the three of them pass through a ton of booby traps, and eventually find the small chest. But they are horrified to learn that the chest was for the Huntsman, and inside is the Aztec skull!
Quickly, Jake returns to Brocamas, and confronts him about how he could do business with an evil dude like the Huntsman. He replies that he is doing it for the gold, just like Jake. But Brocamas quickly changes opinions when he finds out that an Aztec skull is inside. The two think up a plan to meet the Huntsman (alongside several members of the Huntsclan) back at the top of the cave so they can get back the skull.
Jake returns back to Gramps, who is furious about all of this. But Jake admits that he was wrong, and the two begin to think up a way to defeat the Huntsclan. Jake figures that many people would do crazy things for Leprechaun gold, and thinks up a way. So he and a whole gang of magical creatures meet up with the Huntsclan. With all the gold he owns, Jake persuades them to fight off the Huntsclan. He then gets ahold of the skull, just in time to escape.
The next day at school, the crew is bummed now that they aren't living in the riches anymore. But Jake assures them that it's cool, and with his new part-time job, they'll probably be back in that lifestyle in no time.
- The title is a reference to fool's gold, which is a common nickname for pyrite, a mineral that is often mistaken for gold.
- This is the first time Brad says: "Aw, man!"