Credit: Disney's Peter Pan

We’ve been speculating all season about Peter Pan’s identity on Once Upon a Time, but none of our guesses were even close to the surprising reveal. In the first part of the epic two-part finale tonight (Season 2, Episode 21: “Second Star to the Right"), we discovered that we hadn’t met him yet and he was the opposite of who we’ve always known the Neverland favorite to be.

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When we saw young Baelfire head into a new world and meet Wendy Darling, all seemed sweet and lovely. Her family welcomed him with open arms and he was happy for the first time since his dad, Rumplestiltskin, became the Dark One. However, as soon as Peter Pan showed up, things got real. We thought it was a bit strange that he was just a shadow and not the Disney character (you know, the boy who never wanted to grow up) we know and love, and we were even more surprised when he turned out to be an evil creep who steals children from their families and doesn’t let them return. Ever. A far cry from the fun times in Neverland, no?

We discovered this when Wendy didn’t listen to Bae’s warnings to never invite magic into her life. He knew first-hand that it came with a price, and no matter how cool it was that Peter could fly and shape-shift, things wouldn’t end well. Unfortunately, he was right, and after Wendy was swept off to Neverland, she came back completely shaken. While she escaped the shadow’s tyrannous reign over Neverland, in exchange, Peter said he was coming back for one of her brothers.

Bae & Co. tried in vain to block the shadow out, locking the windows and carrying weapons to their beds, but it didn’t work. Evil shadow Peter made his way in — with the candles and fire all blowing out as he came through the window — and Bae sacrificed himself so that Wendy’s brother Michael wouldn’t be taken and magic wouldn’t hurt her family. But it didn’t end there!

As we found out in the final minutes, 1.) Peter Pan is scared of fire, so Bae lighting a match caused him to drop the would-be-Lost Boy, and 2.) Captain Hook actually saved Bae’s life after the youngin’ fell in the ocean, meaning that he’s apparently the good guy. Role swap, anyone?

We can’t wait to see how this all pans out in next week’s Season 2 finale. Are you as freaked out as we are about evil Peter Pan? Sound off below!

Read more OUAT spoilers here.

Once Upon a Time’s Season 2 finale airs on Sunday, May 12, 2013 at 8 p.m. ET/PT on ABC.