The opening pokes fun at Santa Anita, a popular Los Angeles adjacent racetrack and Hollywood hangout.
Electric eels actually live in freshwater habitats down in South America, but always make for a good sight gag.
Some of the gags are dated but still funny, including the Hepburn-esque starfish, the "fins," the references to Ripley's Believe it or Not, and a WPA employed shovel nosed shark. Avery at his best.