After being pawned to a Las Vegas shop owner, Gupta, the Leprechaun (Davis) jumps on his back and bites off a part of his ear, accusing him of being a greedy thief. He then beats the Gupta's legs with his walking stick and notices that he's wearing leather shoes. He removes one and states that he "appreciates a good pair of shoes." He looks down and notices Gupta's sock has a hole in it, revealing his big toe. The Leprechaun takes a hold of his foot and says, "Ah, don't mind if I do!", and then proceeds to bite the man's big toe off. Before he can cause him anymore harm, Gupta reveals that he is wearing a medallion that he found on the Leprechaun's then petrified body. The Leprechaun runs from it and hides in the basement, where Gupta follows him and is shot in the arm with an arrow from a Cupid statue. He runs back upstairs to call for help, but is strangled to death by the Leprechaun via the phone cord. He is found by college student, Scott McCoy, who has fallen for a casino employee named Tammy Larsen. Scott steals Leprechaun’s coin which in this movie has the ability to grant one wish per person. This one wish can do Leprechaun no harm. This is also the first movie in which Leprechaun can be turned into concrete if forced to wear a medallion.
After striking rich at the casino, Scott is robbed by employees (Loretta and Fazio) and attacked by Leprechaun. He is able to throw Leprechaun out of the hotel window, but in the process is bitten. In the meantime, casino employees (Mitch, Loretta, Fazio) pass the coin around making wishes. Mitch wishes he could sleep with Tammy, Loretta wishes for a new body, and Fazio wishes that he were the greatest magician in the world.
Obviously Leprechaun has survived the fall, and, one by one, he kills them off. Mitch is killed after Tammy leaves the room. A pornocomes on the television and starts speaking his name. The women comes out of the television and starts kissing Mitch. Mitch hears the Leprechaun on the television and looks up. When he looks back at the women, she is a robot. She electrocutes him.
Loretta wishes for her twenty year old body. When confronted by the Leprechaun she tells him she doesn't have the coin anymore. In turn he blows her up by making her breasts, butt, and lips bigger and bigger, until she explodes. Fazio's death was the worst of all. He wished to be the best magician in the world. During his show the Leprechaun shows up. Everyone thinks he is part of the show. They do the man getting sawed in half trick. The only thing is the Leprechaun has a real chainsaw. Everyone in the crowd said they wanted the trick to be done, they just didn't know that there would be that much blood and gore. The whole crowd was disgusted when they saw Fazio was dead, and he was killed right in front of them.
Scott has begun to turn into a Leprechaun himself from being bitten and must fight his urges to steal Leprechaun’s pot of gold. In the end Tammy and Scott burn Leprechaun’s gold, which in this movie has the ability to kill him.
- Warwick Davis as Leprechaun
- John Gatins as Scott McCoy
- Lee Armstrong as Tammy Larsen
- Caroline Williams as Loretta
- John DeMita as Fazio
- Michael Callan as Mitch
- Tom Dugan as Art
- Marcelo Tubert as Gupta
The film was panned by critics and currently holds a 0% approval rating on review aggregator website Rotten Tomatoes, based on five reviews. It, however, has the highest rating of any film in the series on the Internet Movie Database with 4.8/10. Leprechaun 3 went on to become the highest selling direct-to-video film of 1995.
Warwick Davis later said the film was his favourite of the series because he liked the humour in it. "I think it tapped into the potential of bringing a comedic element to it all. AndBrian Trenchard-Smith, who directed that one, is an incredible director. He manages to get so much out of so little money, and that was what was great about working with him. He really got the humor."
- Christopher Carle, "Interview with Warwick Davis", IGN Films, April 12, 2012 accessed February 8, 2013