Episode 4 of Our Flag Means Death Season 2 kicks off with Stede and Ed's intertwined fingers, a moment of tranquility shattered as Ed awakens and promptly collides his head with Stede's. The news of Ed's revival spreads like wildfire among the crew, who adamantly demand his expulsion from the vessel. A vote is inevitably cast, and banishment looms as the inevitable outcome.
Amidst the commotion, Buttons approaches the dazed Ed, revealing his knowledge of Ed's mysterious presence in the gravy basket. This recollection prompts Ed to recall his hallucinatory vision of Stede as a mermaid.
Stede seeks Izzy's favor, standing beside the ship's damaged unicorn figurehead, but his pleas for Ed's retention fall on deaf ears. Ultimately, Ed's fate is sealed, and he departs with curses flying. Left behind, Buttons confides in Stede his quest for a vessel that will transform him into a bird.
Ed's fury blazes through the lush foliage until he encounters a harmless rabbit, engaging in a heartfelt conversation that is abruptly cut short by its demise. The perpetrator turns out to be an old acquaintance, a woman named Red.
Meanwhile, Buttons and Stede traverse the shore, Buttons sharing the intricacies of the gravy basket and its potential to blur Ed's sense of reality. They stumble upon an antique shop owned by Anne Bonny, a collector enamored by Stede's knowledge of rarities.
Suddenly, Red appears with Ed in tow, reuniting him with Anne. Stede introduces himself, causing a slight downturn in Ed's expression. Anne and Red extend an invitation to dinner, and the evening progresses with tales of daring jailbreaks and gruesome face-slashing. Stede narrates the tale of Ed and himself, with Ed's sarcastic interjections adding spice.
In the kitchen, Anne rushes to check on the cooking rabbit, soon followed by Red. A commotion erupts, and upon their return, Red is seen with a knife protruding from her back, but it's merely Anne and Red's unconventional way of adding excitement to their evening.
On the ship, the crew divided between Stede's loyalists and Ed's traumatizers attempt to throw a surprise for the latter group. However, the piñata reminds them of the tumultuous fight, while Roach's cake evokes memories of the brutal massacre from Episode 1. Chaos ensues as screams fill the air.
In the kitchen, Anne and Stede exchanged words while Ed and Red engaged in a lively chatter outdoors. Red teased Ed, claiming he had a predilection for artistic outsiders. Anne, moved by Stede's tale of leaving his wife twice, tried to kiss him but suddenly felt a wave of nausea. She realized, with a jolt, that Red had poisoned her. Meanwhile, Buttons, having finally found his elusive bowl, hovered nearby.
The entire ship's crew stood frozen, knives and guns aimed at each other. Olu desperately tried to explain that they were seeking to create a haven, but a fleeting spat quickly reignited the tensions. Suddenly, Izzy, drunkenly staggering in, his wooden leg broken and muttering incoherent ramblings, burst into the fray. Refusing any assistance, he crawled out, determined despite his fallen state.
Over dinner, Anne let slip the news that Stede had abandoned Mary again, shocking Ed who had assumed Stede had left him for Anne. Enraged, Ed rose and smashed a chair against the wall. Later, finding Ed under a blanket on the sofa, Stede sought to explain.
The two men finally confronted the elephant in the room. Ed lashed out at Stede, but Stede confessed that their relationship had moved too fast, causing him to panic. When Ed accused him of treating him like a fleeting fancy, Stede reminded him of Ed's own plans to send him to "doggy heaven." Stede then confessed his love for Ed, a confession that elicited raucous laughter from Red and Anne, who had been eavesdropping. Teasing the two men, Ed accused them of dragging him and Stede into their games.
Red claimed boredom from selling antiques in the middle of nowhere, prompting Anne to accuse her of fearing a return to piracy. Red retorted, declaring that her relationship with Anne was a grown-up one, where the magic inevitably fades. Meanwhile, Anne set the entire house ablaze, telling Red they were free to leave. As they embraced, Stede and Ed hastily exited.
Back on the ship, Izzy, arguing with himself, heard a knock on the door. He opened it to find a prosthetic leg, crafted by the crew from the broken unicorn's leg, along with a note. Overcome with emotion, he read the words, "For the new unicorn."
Walking outdoors, Stede informed Ed that he would inquire with the crew if Ed could remain on the ship for one more night. Buttons, engaged in a ritual to transform into a bird, disappeared behind a tree, and when Ed followed, he found a seagull in its place. The bird took flight, and Stede returned, asking Ed to follow as he had lost his way back to the ship. Izzy, wearing the prosthetic leg, read the note from the crew, a testament to his newfound identity as "the new unicorn."
