A woman stumbles upon the Leprechaun's gold and divides it with her friends, unwittingly setting the creature after them.
This film has examples of:
- Aerosol Flamethrower: A victim gets chased into her bathroom and attacks the Leprechaun with one of these when he busts through the door. It does repel Leprechaun but doesn't kill or even significantly burn him.
- Affably Evil: Leprechaun may be evil, but he did politely ask for his gold coin back from the water-bong guy he smoked marijuana with by asking "Now give it back. That's a good boy". However, except for this guy he doesn't ask very gently for his gold back from the others who stole the gold from him.
- An Arm and a Leg: Leprechaun is approached by a policeman, and he rips off his leg. He then uses the said leg to reach the pedals of a police car as he gets back to chasing after the protagonists.
- And Show It to You: Watson, one of Leprechaun's victims, dies by having his beating heart torn out.
- Asshole Victim: None of Leprechaun's victims were very likable.
- Bloodless Carnage: After Leprechaun tears off a policeman's leg, he doesn't spew any blood. Though this could be because Leprechaun is a magical creature he can make things like this possible.
- Bullying a Dragon: Multiple human characters outright do this to the Leprechaun.
- Captain Oblivious: The stoner in the kitchen scene is distracted by his earphones and music (in addition to being really high) that he can't spot the leprechaun within 1 foot of him stealing his bong and food. Also doubles as Rule of Funny.
- Car Fu: Attempted on the Leprechaun to kill him. He just latches onto the bottom of the car.
- Cop Killer: The Leprechaun, though the two cops should've seen their deaths coming given their abrasive behavior with one greedily refusing to give back his gold and the other just shooting at him after his partner gets killed.
- Department of Redundancy Department:Leprechaun: "You have stolen what's been stolen from me!"
- Depleted Phlebotinum Shells: Four-leaf clover-laced hollow point bullets are used against the Leprechaun.
- Drugs Are Bad: Marijuana makes the characters, including Leprechaun, stoned out of their minds leaving them with clouded judgment and an insatiable appetite.
- Even Bad Men Love Their Mamas: Lep gets mad when a cop insults his mother.
- Greed: In the climax, Leprechaun gives a "The Reason You Suck" Speech to the protagonists claiming this to be humanity's most defining trait. Then again, Leprechaun's not so different either.
- Hoist by His Own Petard: Leprechaun kills a junkie who stole one of his golden coins with the latter's own bong by stabbing it through his stomach.
- Jawbreaker: Leprechaun rips a woman's upper jaw out to get the tooth she made out of his gold.
- Kill It with Fire: Attempted by a female bystander on the Leprechaun. It doesn't work, or even give him any burns.
- Letters 2 Numbers: Used to indicate Lep's return to
- Mid-Battle Tea Break: The only thing Leprechaun doesn't do besides kill people is smoke weed and look through a man's refrigerator to eat.
- Nothing Is Scarier: Leprechaun kills Esmeralda offscreen in a magical duel. We see his eyes turn glowing red, then we hear Esmeralda scream. How exactly he killed her is not shown.
- N-Word Privileges: A minor white character cheerfully uses it during a drug deal everyone (including people in the background) just stares at him in disgust, with a record scratch noise (and the sound of a car braking) even being heard when the guy utters the word. Of note, at one point in the movie one of the main characters tells another that "nigga" is actually out and that the new word is "ninja".Leprechaun: Whassup, ninjas!?
- Offscreen Teleportation: Leprechaun pulls this off in the nail salon.
- Police Brutality: Both inflicted by and upon cops.
- Shut Up, Hannibal!:Leprechaun: (to Emily, who's dangling from a rooftop) For two thousand years you filthy mortals have tried to steal my riches to satisfy your greedy urges... and it always ends the same, with you begging for your miserable lives. Was it all worth it in the end? One day your kind will learn that the treasure of the Leprechauns—
Leprechaun: Huh? (gets shot in the chest several times by Rory)
- Stoners Are Funny: Some humour is provided by the Leprechaun trying out weed, and trying to quell the munchies that follow.
- Uncertain Doom: While Watson and Cedric were killed by the Leprechaun, it is unknown whether the other 2 gang members were killed as well or knocked out.
- You Fight Like a Cow: After Watson punches the Leprechaun into a pile of garbage, the Lep shrugs it off and tells him, "You hit like a wee lass."