The Real Magic

The Real Magic is a treasure found in. It appears to be a key with various rubies.

Collecting the treasure
Soon after the level starts, a large Coppeller will fly onto the screen. Throw enough Winged Pikmin at it to defeat it, and the treasure will drop into the middle of the screen. It is unable to be picked up by the Winged Pikmin, so Olimar himself must collect the treasure before it falls off the edge further down.