As you move across the pulley platforms at the start of the level, a Lakitu appears in the background. Wait for this enemy to move into range, then stomp it and take its cloud. Fly above the platforms at Point 1 to find a Gold Ring.
The first Moon Coin is floating high above the platforms. To find it, use a Lakitu’s cloud to follow the coin trail above Point 2.
Collect the Moon Coin and return to the platforms before the cloud you’re flying vanishes.
The second Moon Coin is just below the platform at Point 3. The nearby enemies can overload the pulley platforms, making it difficult to collect the Moon Coin. Jump to the toadstool just past the Moon Coin and wait for the enemies to break the pulley platforms. As soon as the platforms reappear, hop over and collect the Moon Coin.
The third Moon Coin is in a hidden area. Stomp a Lakitu near the pulley platforms at Point 4, then use its cloud to fly up to the green pipe above you.
Enter the pipe, then use the pulley platforms to stomp the Lakitu and collect the Moon Coin.