From the Super Mario Wiki
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The first thing the player has to do is press the yellow Color Switch directly in front of them, and then climb up the second ladder on the left and activate the Mini-Mario. Climbing back down the ladder, the player has to press the red Color Switch while the Polterguy is against the wall on the right, and both the player and the Mini-Mario need to use it to get over the wall. The player needs to climb back down and press the yellow Color Switch, making the Polterguy move again while keeping the Mini-Mario out of harm. Once the Polterguy is against the wall on the left, the player needs to press the red Color Switch, allowing them and the Mini-Mario to get over the wall. Next, the player and the Mini-Mario needs to use a Springboard and then jump across to the next platform on the right. Finally, the player needs to time their movements with the two Thwimps to get to the locked door on the other side.
All three Presents are positioned over the Thwimps and locked door.