Leprechaun: In the Hood (2000)

When Butch, Postmaster P, and Stray Bullet rob the studio of a local hip-hop magnate to finance their demo record, they inadvertently get the key to Mack Daddy's success: a magical flute.

Their occupations suddenly turn golden, but a murderous Leprechaun and an infuriated Mack Daddy are close (mentioned here) on their tail, leaving a path of ruin stained by politically incorrect limericks.