Peters deliberately refuses to make a third and final wish. “He heard a harsh laugh behind him, and turning round saw the old King looking at him with a malicious expression. "Well, my friend! You don't seem to have managed so wonderfully with your first two wishes, do you? What will you do with the last? Turn yourself into a swan? Or turn Leita back into a girl?" "I shall do neither," said Mr. Peters calmly. "Human beings and swans are better in their own shapes (Aiken,3)". Surely, the most significant evidence that demonstrates the theme of this short story can be found in Mr. Peters’ final quote: “Two wishes were enough for me, I reckon. I've learned that even if your wishes are granted they don't always better you (Aiken,3)”. Ultimately, Mr. Peters realizes that true happiness is not brought about by wishes and therefore spends his years in peace and contentment.
Three Wishes is a short story about how a character who makes a wish comes to the realization that wishes don’t always bring happiness and satisfaction. Mr. Peters ultimately does not gain from being granted three wishes. He uses the second wish to reverse the first and abdondons the third wish out of fear and doubt. It is at that moment he learns the lesson be careful what you wish