The third installment of the Boku no Pico series, which takes sometime after the second OVA, Pico to Chico.
Pico and Chico meet a mysterious young boy named CoCo, whom Pico at first believes is a girl. The three of them become friends, but soon CoCo believes he is becoming a strain on Pico and Chico's relationship and decides to distance himself from them. The three of them rekindle their friendship by the end of the OVA.