I've heard this story told many different ways. BUT, the other night we were at the mall and there happened to be a show--which Ana wanted to see. (I have to say that it is very enjoyable, entertaining, and WAY better than their Christmas show!) Being very SHY--she was the only kid that wanted to go up on stage and earned a sucker after saying that the upcoming festival was Chinese New Year (we were so relieved she answered correctly!!!)
So, in this version there is a source for water. The bunnies (This is the year of the rabbit) were all dancing happily until Nian turns off the water. Nian has the power of all the animals in the zodiac. Therefore, his face changes frequently. Ana loved that! So the eldest brother bunny decides to train and bulk up which he does. But he has a dream where he is told he cannot defeat Nian without help. Off he goes to find the green dragon and get his magic hammer. He manages to get it and runs off to find Nian. After an epic battle Nian is defeated and the water starts again. The god of fortune visits the bunny and gives him the title of Jade Rabbit and they live happily every after.
The show is on for three more days and the god of prosperity will hand out gold coins on the weekend!