From a young age, we are taught about the wonders of magic. We believe in it as children and learn of its falsity as adults. But what if some magic is actually real? This is the case for a multitude of communities in South America that engage in the Kambo ritual, an intricate practice of applying secretions from the skin of the frog, Phyllomedusa bicolor, to open wounds in order to better one's hunting abilities and repel bad spirits from the body. Participants in the ritual experience an intense period of violent sickness followed by elation and analgesia, resulting in the "effective" use of Kambo for the treatment of an abundance of ailments, such as arthritis, diabetes, depression, PTSD, cancer, AIDS, and addiction. Although a multitude of studies have been previously conducted on the Kambo ritual, the peptides secreted by P. bicolor, and the connection between these two, no paper exists that discusses the majority of the peptides in depth and places each one within the context of the ritual. This current analysis seeks to accomplish such an extensive review of the biological and cultural aspects of the Kambo ritual in an attempt to explain its association with magic. I go into depth regarding the history and function of the ritual, the physiology and behavior of P. bicolor, and the effects and mechanisms of action of each bioactive peptide on the human body. I suggest connections between the effects of the peptides and the healing benefits of the ritual and pull upon anthropological theories regarding magic to theorize how this ritual originated and became associated with P. bicolor. Through this analysis, I find that the magic and healing abilities associated with the Kambo ritual can be directly attributed to the unique concoction of bioactive peptides contained within the skin secretions of Phyllomedusa bicolor. By acting on the GI tract, cardiovascular system, and central nervous system, as well as by fighting off microbes, the peptides secreted by P. bicolor cause an intense physical experience that has been associated with hunting magic and special healing on account of the uncertainty involved in the hunting process and the actual healing actions of the peptides. Further research into the functions of these unique peptides may result in the discovery of novel medications and treatments that could be of great use in various medical fields.