The fifth film in the Leprechaun series, released in 2000.
A hoodlum named Mack Daddy (Ice-T) discovers the leprechauns gold, and in the ensuing struggle accidentally tosses the gold medallion from part three around its neck, trapping it in stone. Among his newly acquired treasure, he comes across a golden flute that gives its owner great musical talent. Flash forward several years, and he is now a successful rap producer. One night, three aspiring singers rob his office in retaliation for denying them a record deal. They steal the flute and the medallion, unwittingly releasing the leprechaun... in da hood.
This film has examples of:
- Black Comedy Rape: Leprechaun can rape people to death, a "power" he first demonstrates on a transvestite.
- Brainwashed and Crazy: Leprechaun turns three women to his side, and they act as his minions.
- Bullying a Dragon: Postmaster P stole The Leprechaun's flute to fulfil the group's dreams of fame. He causes the deaths of his friends when he tries to prove himself. Stray Bullet is killed when Postmaster P tries to take the flute back after The Leprechaun insults him and he causes the death of Butch when goes back to steal the flute.
- The Cameo: Coolio makes a rather baffling appearance when the heroes perform at a church.
- Combat Haircomb: A character is killed with an afro pick to the throat.
- Downer Ending: It looks like the necklace has frozen the Leprechaun again. We then cut to sometime later, as Postmaster P is onstage, a success, but at the cost of his moral code and his friends' lives. However, he looks at the camera and removes his sunglasses, revealing his glowing green eyes. Not only has the Leprechaun survived, but he's taken control of Post, and if the end credits rap is considered canon to the film, he regains his control over the zombie fly girls. (Unless this is a depiction of their original enslavement shown out of order, as in the original script.) This remains the only film in which the Leprechaun remains unvanquished.
- Dream Within a Dream: Postmaster P. awakes from a dream about the Leprechaun maiming his grandmother. He then gets up to answer the door and finds his dead friend covered in blood, waking him up the second time.
- Evil vs. Evil: Mack Daddy and the Leprechaun have a long history, and spend as much time fighting each other as the protagonists.
- Eye Scream: Happens to the Leprechaun in a dream sequence.
- Hammerspace Hair: The flashback that shows Mack Daddy capturing the Leprechaun has him pulling a knife and then a baseball bat out of his 'fro.
- Hidden Depths: Butch possesses knowledge of electrical wiring and chemistry, first displayed in his attempt to fix the group's fried musical equipment, and comes up several times in their battle with the Leprechaun.
- The Music Meister: Leprechaun uses his powers to make the people in a night club sing and dance for him.
- N-Word Privileges: All the black characters regularly using the word to refer to each other, almost exclusively good naturedly.
- Shout-Out: A character makes an educated guess that the Leprechaun might be "Chucky on crack".
- Title Drop: "From the Emerald Isles to your place in the hood, I'm a man of green come to do no good!"
- Villain Song: "Lep in the Hood, come to do no good"