An early anime-only story, the Goat Island Arc finds the crew sheltering on a fog-shrouded island inhabited by an old loan shark and a herd of goats. They help him finish a strange ship while dodging the Marines hunting them both.
The third filler arc of the anime, Goat Island is a small, character-driven detour set while the Marines are on the crew's trail. Lost in heavy fog, the Straw Hats wash up on an uncharted island home to a lone old man named Zenny, his goats, and a half-built vessel perched on a peak. The story was cut from the early English dub.
Fleeing Marine ships commanded by Minchey, the crew steers into a fog-and-reef-choked danger zone to shake pursuit, wrecking two of the warships in the process. Ashore on the misty island, they fall into a trap set by Zenny and, through Chopper, learn the man has only days left to live because of his heart. The crew begrudgingly does his chores and helps build what he calls his own coffin-boat, while Nami schemes over rumors of his hidden fortune. Zenny reveals himself as a retired money-lender who once dreamed of becoming Pirate King, a dream Luffy insists is never too late to chase.
Minchey, after his treasure, springs an ambush with hidden ships and takes Usopp hostage. Zenny sleds his boat down the mountain into the fray, and with the crew's help the Marines are beaten back. When his weak heart falters mid-fight, Robin and the others cover for him and tie Minchey up. The old man finally explains that his goats long ago ate his cash fortune, making the herd itself the treasure he treasured.
Luffy tosses the traitorous Minchey back to his superior, Captain Moore, who strips him of rank for his betrayal. Grateful for exposing the turncoat, Moore lets the crew pick the battlefield, and Luffy points them straight into the fog, wrecking the pursuing ships on the rocks. The Straw Hats bid Zenny farewell and slip away, leaving the old man with his goats and his hard-won peace.

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Yes, the Goat Island Arc is the third filler arc of the One Piece anime, an early anime only story that does not appear in the manga and was even cut from the early English dub.
In the Goat Island Arc, the Straw Hats take shelter on a fog covered island and help an old man named Zenny finish building a boat while defending him from the Marine officer Minchey. Zenny reveals his treasure was never money, but the goats that once ate his fortune.
Zenny is a retired money lender on Goat Island who is dying of heart failure and once dreamed of becoming Pirate King. The Straw Hats help him complete a coffin shaped boat before he passes.
Zenny's treasure turns out to be his herd of goats, since his goats had long ago eaten his actual fortune in cash, making the animals themselves the wealth the crew was chasing.
The Goat Island Arc ends with Luffy exposing the traitorous Marine Minchey to his superior Captain Moore, who strips Minchey of rank, after which the Straw Hats say goodbye to Zenny and sail on.
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