Michael, the baby in the pink footie pajamas, sticks a cannonball in his teddy bear, lugs it all the way up the ship's mast, and uses it to knock out an oncoming, sword-wielding pirate.
Peter's rescue of Tiger Lily.
The pirate ship is covered in pixie dust and soars into the sky to return the Darlings to London, against an orchestral variation of 'You Can Fly'.
The opening credits recap the events of the first film pretty admirably, adding a medley from significant songs.
The entirety of the song "I'll Try". First it rips your heart out as a tender song about the loss of childhood the main character is facing, having grown up in World War Two. Then it becomes a musical crowning moment of awesome as Tinkerbell comes alive and it's clear that Jane has learned how to believe in something.
She then proceeds to trounce Captain Hook with much confidence and aplomb alongside Tink to spectacularly save Peter and the Lost Boys. It would be almost into Large Ham territory if it wasn't so awesome and improbably cool for such a formerly overly-mature character.
This one mixes it with a little bit of a Tear Jerker:
Wendy: (while Peter has a sword at her throat after beating her in a duel) Sir, you are both ungallant and deficient. Peter: How am I deficient? Wendy: (dismissively) You're just a boy.
The climax has one of those totallycliché moments that tend to make viewers (such as this troper) tear up with the sheer awesome.
