By means of changing the reaction parameters, different products could be generated selectively starting from the same combination of substrates involving 1,3-dicarbonyl compounds and formaldehyde. This strategy enabled us to access diverse molecules without changing both starting material and reactor, maximizing thus the multifunctionality of the synthetic system. For example, starting from a 1,3-dicarbonyl compound, formaldehyde and 1,1-diphenylethylene, two kinds of products could be selectively formed including (i) a densely substituted dihydropyran and (ii) a C2-cinnamyl substituted 1,3-dicarbonyl compound. A one-pot three-component reaction of phenacylpyridinium salt, 1,3-dicarbonyl compound, and formaldehyde was also investigated, which produced either 2,4-diacyl-2,3-dihydrofuran or 2,4-diacyl-2-hydroxylmethyl-2,3-dihydrofuran in good to excellent yield.