90's movie involving magic, short old lady, young girl, love and a carousel. HELP!?

I'm trying to remember a movie I had seen when I was a child back in the 90's. The details are really blurry but I do still remember bits and parts but I would like to know the full name of it I'm not sure whether it was from the 90's or the 80's. It was a movie of a girl that wasn't too popular and she was in love with one of the "popular guys" at her school. She walks into a fortune telling shop and the lady seems to grant her powers?? A scene involving the lady (short and old) is when she gets a frog and puts some kind of powder on it to make it into a perfect male for herself. He is cute but still croaks like a frog. Well the girl becomes popular (I'm not sure if it was as a singer but I think so) and she gets the guy. A scene with them two is when they are in an abandoned house both are wearing black and well they kiss. Also she is very fond of a carousel that was hidden in a warehouse that she often goes to. She runs to the carousel in a raining scene. If this sounds familiar to anyone and if you know the name please tell me. It was my most favorite movie and I really hope to remember. I'd really appreciate it.