We rejoin Pinkie in an underwater cave. As she regains conciousness, she notices a male pony with a Cutie Mark of a clam on his lower half being a fish tail sitting in a puddle of water.
"Are you all right, miss?" the pony asked in a soft, raspy voice.
It took a couple of seconds, but the out-of-breath Earth Pony perks up and begins running around in a panic shouting "OH MY GOODNESS! FISH! LAKE! WALRUS! NOMNOMNOMNOMNOM! CONTEST! POLE! SLAP!" She then plops in front of the strange pony.
"My name is Clam Clop" he said, "I am a Merpony. Now what's this about a walrus?"
Pinkie then proceeds to explaining her situation; "Well, yesterday, me and my friends were at Carosel Boutique and after Rarity started panicing about losing a pice of an outfit she was making, Twilight then had an idea". After three hours of explaining every detail up to her meeting Clam, Pinkie then asks "So why is there an underwather cave in a lake?"
"This cave is connected to the sea," he replied, "Specifically, to my home, Gallopagos Island". He then points to the pool of water behind Pinkie. "Please, hop in".
Pinkie then then jumps into the pool asking "What are we doing?"
Clam then heads into the pool himself and hoofs Pinkie Pie a cupcake with green frosting saying "All your questions will soon be answred. For now, eat that".
"Done!" Pinkie shouted licking the frosting off of her face.
Clam dives in followed by Pinkie Pie who holds her breath. Noticing her puffy cheeks, Clam points out "You do not need to do that, the cupcake you ate had an ingredient that temporarily gives you the ability to breathe underwater, long enough to get to the island".
After blowing out a few bubbles, Pinkie replies in a gurgly voice "Okie dokie lokie!"
The two travel on the ocean floor seeing various sea creatures along the way. When they got to a tunnel in the mountain on their path, the effects of the cupcake began to wear off. They quickly swam through the tunnel into a lake full of Merponies.
As Pinkie makes it to dry land, Clam began to explain the reason for binging her to the island; "This is Merpony Lake, my domain. Your destination is Buckatowa Village. A local will escort you to there. I will see you again around the waters of the island. Farewell for now, Wielder of the Element of Laughter!"
He then dives into the water again as our party-loving heroine walks along the path in the jungle until she runs into a female, tropical tan Earth Pony with a flower in her grass-green mane with a Cutie Mark of a Coconut Tree on her flank.
"Greetings, miss Pie," the native filly says in a voice as soft as Fluttershy's yet slightly rough as Rainbow Dash's, "My name is Paradise, come with me".
The two Earth Ponies walk aways before making it to the village. There, she ran into a familiar face wearing a sun hat and an aloha shirt. "Derpy?" Pinkie claimed seeing her.
"Oh, hi, Pinkie," replied the grey Pegasus, "Are you here on vacation too?"
"No, I actually don't know what I'm doing here" said Pinkie, "No, seriously, what's going on? As Twilight would say, 'this makes no sense!' I've been acting practically out of character! You're being a big, confusing, weird, crazy confusie confusing pants!"
Wait, what?
"Well first I'm fishing in a lake while camping with my friends, then a big guy tells me it's HIS lake, then I get into a fishing contest for the lake then my pole gets stolen and then I'm brought to this island and now I'm in a village on said island with Derpy Hooves! And why do you keep calling this Pinkie Pie's FISHING Adventure when there's no actual fishing going on right now!? AND WHAT'S WITH THE WALRUS!? DO I EVER GET THE POLE BACK!?"
*Munch* *Munch* *Gulp*
"What the hay?"
Sorry, you were ranting so long, I left to get some lunch.
"Haven't you been paying attention? The point is, you're writing me out of character for most of this!"
Hey, at least I didn't write you into a murderous butcher-baker like the guy who wrote Cupcakes did!
"I guess you're right...Wait, you read that?"
No, just a desciption of it on Know Your Meme.
"Oh..."
Okay...So Derpy, why don't you explain how you got to have a vacation here?
"That would take up a whole nother paragraph, are you sure you want to finish up this part with that?"
Aw pony feathers!
Okay, that was a disaster...Anyway, after givng the two Ponyvillians a tour of the village, Paradise brings them to a big hut.
"But what about the-?"
WILL YOU FORGET ABOUT THE WALRUS FOR NOW!? I'LL GET TO THAT! Sorry, now then, a male, yellow Earth Pony in a tribal headdress with an aloha shirt of a different design of that of Derpy's and a Cutie Mark of a bottle of a sunblock on his flank exits the hut.
"Greetings bodacious visitors," He said in a surfer dude voice, "Welsome to Gallopagose Island!"
Paradise then replies, "Father, I brough the chosen one"
"Righteous, come this way" The chief said.
He then leads them to a wall with what appears to be a picture of Pinkie Pie's Cutie Mark.
End of part 2
"Wait, that's it?"
Afraid so, your rant took up most of the second to last paragraph.