Kids fantasy, animated/live-action 80's/90's
So this sounds REALLY weird but I know I've seen it, and I feel like I've seen both a live action and an animated version, though their circumstances were different in each. Basically in either version someone falls or is cast into a large vat/tub/pond of some mysterious multi-colored liquid and when you think they're probably dead, they fly out of it, reborn I suppose with wings and they fly away. In my memories of the live-action one, it was a group of kids in a fantasy world, and they got in trouble somehow and were going to be thrown in, but got "rescued" at the last minute. As for the animated version it felt more like a fairy tale and it centered around one man I believe who fell in or such, and came out of it flying far away. It sounds absolutely ridiculous I know, but I can't get it out of my head... has anyone else seen these? Or do they at least sound familiar? Or am I a crazy person? Lol. Thanks in advance. :p