The bucket is back where it belongs.

Bureaucrats are set to lock themselves into an artistic debate as Wellington's bucket fountain can be whole again.

In the dead of night, earlier this week, a yellow bucket from Cuba Mall's Bucket Fountain was stolen.

And, again, in the dead of night, it was returned to be found outside Cosmic - beside the fountain - early on Friday morning.

ROBERT KITCHIN/STUFF Whoever stole the bucket decided they would paint the inside of it.

Where it had spent the week - coincidentally orientation week for many Wellington students - remained a mystery.

Do you know anything more about the bucket's disappearance? Contact newstips@stuff.co.nz

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Wellington City Council - which was about to start scouring security footage in an attempt to track down the thief - was "just happy its back", council spokesman Richard MacLean said.

"I don't think anyone is going to waste too much time trying to track down the culprit."

The bucket would likely be re-installed next week, after it was checked over for damage.

There has though been one change to the bucket during its absence - an intricate and psychedelic pattern has been painted on its interior.

Now, an "artistic debate" would be had within council about whether to keep the new paint job, MacLean said.

Chris Black was walking past the fountain early on Friday morning when he noticed the yellow bucket shimmering in the water.

"I knew it had been missing, I had a look in the pool and it was sitting in there."

"It looks like it is in a good state," he said.

Black said it was good the culprits had returned their loot.

"Any theft is not good, but it was nice they returned it. It is an icon of Wellington," he said.

The bucket went missing late on Sunday night, MacLean said earlier this week.

It was last seen outside a chemist further up Cuba Mall.

Somewhat prophetically MacLean said it would be better if it was "just, say, left back at the scene of the crime".