Unfortunately, a giant squid that was friends with Sauron found the Ring.

Fortunately the squid wound up becoming deep-fried calamari on Thranduil's dinner table.

Unfourtunately, Thranduil ended up getting poison because the squid was deep fried properly.

And fortunately...Thranduil died. (I never liked the guy anyway).

Unfortunately the not-fried-properly squid went on to bring the ring to sauron....

Fourtunately, since the squid was half fried, Sauron decided to eat it.

Unfortunately, Sauron found the Ring while he was preparing to eat the squid.

Fourtunately, the Mouthof Sauron's Dentist came in and Sauron wasn't able to wield the Ring and Gandalf came and took it instead.

I see I cross-posted so I'll change...

Unfortunately, Barad-dur locks from the Outside and Gandalf couldn't escape.

Fourtunately, he used Radagast-the-Moth (as Boro previously stated, sent back by Eru) and he summoned the Eagles to his aid.

Unfortunately Mordor has a state of the art air defence system.

Fourtunately, that state-of-the-art air deffence system was not working properly at the time.

Unfortunately, the eagles got tired of hauling Gandalf around and just left him in Mordor.

fortunately gandalf was caught by johnny the stinky balrog

Unfortunately, Gandalf was killed by the stink.

fortunately days later Gandalf was reincarnated yet again, as Gandalf the bleached.

Unfortunately, he now smelled strongly of chlorine/bleach.

Fortunately, the Orcs would not go near him now.

Unfortunately, the orcs from Sauron's swimming pool service did go near him.

Fourtunately, all the orcs from Sauron's swimming pool service fell in the pool and drowned.

Unfortunately, the drowned orcs were quite a mess, and would be such a pain to clean up.

Fourtunatel, Sauron couldn't use the pool seeing as he had no body and the orcs didn't care for swimming either.

Unfortunately Gandalf did want too swim....uncloaked

Fourtunately, Frodo did, not uncloaked of course. Why would he want to steal Gandlaf's thing and possibly put himself at risk of being turned into a frog.

Unfourtunately gandalf turned frodo in to a frog for no reason.

Fortunately . . .
 

. . . a frog turned into Frodo for no reason.

Unfortunately radagast came by for a swim and turned the frog back into Frodo so we have two Frodos now

Fortunately . . .
 

. . . the other Frodo gave good footrubs, so they let him live.

Unfortunately, both Frodos chose that exact moment to spontaneously combust.

Fortunately . . .
 

. . . some Quarterling proved that spontaneous Halfling combustion is impossible, so the two Frodos de-combusted. :p

Unfortunately, the brief combusting caused a forest fire!

Fortunately . . .
 

. . . the nearest forest was a thousand leagues away, so the forest fire did not find a forest to burn.

Unfortunately, Treebeard was passing by!

Fortunately, it was only in Hookbill's imagination.

Unfortunately Hookbill's imagination was one of those that came to life!

Fortunately, my imagination isn't very good and so Treebeard came out as just a Beard next to a tree.

Unfourtunately, your imagination got better and the beard that was beside the tree turned into Treebeard. :p

Fortunately, it was a forest fire, not an Ent fire, so Treebeard was safe.

Unfortunatly, Treebeard just had gotten back from the Licensing Buearo, and just got himself re-classified as a forest-tree

Fortunately the paperwork hadn't been properly signed so he was still just an Ent.