Ross initially claims he and Elizabeth are great together, but after walking in on her and her friends having a water balloon fight, he decides she is too young after all and breaks off the relationship.
Ross questions his choice for a moment afterwards, but Elizabeth drops water balloons on his head from her window as he leaves, solidifying his decision.
Rachel takes Phoebe and Joey to a charity event helping children, featuring a silent auction.
Joey accidentally bids $20,000 on a yacht, thinking the point of the auction was to guess the value of the items, and wins.
Feeling envious of Chandler and Monica, Rachel decides to find a "backup": a friend who will agree to marry her if they are both still single at 40.
Chandler enters their apartment and finds Monica is still there surrounded by dozens of lit candles; Joey was pretending.
The end credits play while Monica and Chandler slow dance to Eric Clapton's "Wonderful Tonight".
This idea was ultimately rejected by the producers since it would be investing a lot of time in a secondary character without a payoff.
[7] Entertainment Weekly listed Chandler and Monica's proposal scene in their "26 Great 'I Love You's".