The Masked Magician is a superhero identity that Timmy took on in the episode of the same name. Timmy became this identity to get the crowd back onto his parents' lawn after seeing that they were losing the crowd to the Dinklebergs. This identity later became a superhero identity after Timmy uses Cosmo and Wanda's magic to save a jet pilot from crashing into the crowd. This identity only appeared in "The Masked Magician".
Timmy became this identity to get the crowd back onto his parents' home after he saw that they were losing the crowd to the Dinklebergs. Timmy wanted to use real magic for an act that would impress the crowd, but Wanda tells him they can't do that while Crocker is around as they'll be exposed. Timmy decided to do the act while wearing a disguise. Timmy successfully gets the crowd back to his parents and after saving some jet pilots from a blinding light, he becomes Dimmsdale's new local hero, however Timmy unintentionally made Mr. Bickles his archenemy due to Bickles thinking Timmy had ruined his dream.
The Masked Magician is Timmy clad in a magician costume and mask. Cosmo functions as the hat while Wanda functions as the bow tie. Whenever Timmy casts a spell, he says the first part of a normal magic incantation before saying "I wish...(insert action here). Cosmo and Wanda would then grant Timmy's wish and make what Timmy wants to do come true.
When Timmy needed to get the crowd back onto his family's lawn, Timmy decided to use real magic for an act, but Wanda told him they can't do that with Crocker around as they will be exposed to the world, so Timmy suggests doing the act in disguise. Timmy's godparents then make Timmy a magician in a mask.
He successfully gets the crowd back on his parents' lawn. When Crocker goes to find out where Timmy is getting the magic, Timmy just uses him for the acts he is doing and ends with Crocker getting chased by a lion. Britney Britney wanting the crowd back on her tries to kick it up some more, but this causes a jet pilot to be blinded by the bright light, causing him to nearly crash into the crowd. Luckily Timmy saves the pilot with his godparents' help. This makes Timmy hailed as the town's new hero. However it also causes Bickles to be jealous of Timmy using real magic to wow the crowd and he vows to make Timmy pay for ruining his dream.
After saving the day a couple of times, Timmy goes to Chincinnati to get advice from the Crimson Chin. The Chin still sees Timmy as his sidekick, Cleft. The Chin warns Timmy to be careful on being a full-time superhero as he may face an enemy that he might have unintentionally created. He gives an example with The Bronze Kneecap by grabbing him and explaining the Kneecap's backstory. After the Chin throws the Kneecap into jail, Wanda notes the Chin is right, but Timmy assures his fairies that his situation is different as he never created an archenemy from what he is aware of.
However, Timmy had created an archenemy in Mr. Bickles as the latter then becomes the Handker-Chief as his revenge against Timmy in belief that he stole his dream. He then covers Dimmsdale with the world's largest chiffon handkerchief and prepares his plan on making the city disappear. When Timmy arrives, he is surprised that it is Mr. Bickles, who is angry, that Timmy figured out his identity and can now fly on his own. After Bickles reveals his plan, he prepares to hit the button that will cause Dimmsdale to disappear, but Timmy quickly says he is sorry about whatever happened if it hurt his dream as he only wanted to help the Turners and nothing else. Bickles was not expecting this, but Timmy states he will stop being a superhero if Bickles stops being a supervillain. Mr. Bickles agrees to this, and ever since then both The Masked Magician and The Handerker-Chief have ceased to exist. Timmy then had his godparents make Bickles' dream come true by having him kick Britney Britney out of her Vegas Show and replace it with his own with Cosmo and Wanda supplying the magic for Bickles.