The Phoenix and the Carpet (The Psammead Trilogy, #2)
by E. Nesbit
Four children discover a strange egg in their new nursery carpet, and when the egg is accidentally dropped in the fire, it hatches a beautiful Phoenix. The Phoenix reveals that the new carpet is actually a magic carpet that can take them anywhere in the world. Although they have some fun adventures, more often than not, their adventures go awry and their wishes get them into trouble.
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