Ooh, he could definitely be some sort of incarnation of the Wizard of Oz. I mean he’s supposed to be a regular guy (possibly from our world) who TRAVELS TO the Land of Oz… And becomes famous essentially because he can put on one heck of a good show. They say this guy is a stranger who comes to Storybrooke… So I could see him coming to Storybrooke and everyone makes a huge deal out of him, because WOW! No strangers EVER come to Storybrooke unless they’re important (read: Emma, Pinocchio). So he becomes the Wizard of Storybrooke… And perhaps him and a mystical hot air balloon are what Charming and the gang need to get back to realms of magic?