Wotan and Loge tell Alberich that they have heard how clever he is. They ask him to show them what he can do with the Tarn helmet. Alberich puts on the helmet and changes himself into a huge dragon. Wotan and Loge pretend to be impressed. They ask him whether he can change himself into something small. Alberich show off again, changing himself into a frog. Wotan immediately puts his foot on him and catches him. Wotan and Loge take all the gold and go back to Valhalla.