The Big Bad Wolf and his nephew would later appear in False Hare (1964), the final Bugs Bunny short from the original theatrical era.
The fairy tales played out are Goldilocks and the Three Bears and Little Red Riding Hood.
It's presumed the three characters are supping on cream of carrot soup (or similar) at the end of the cartoon.
The background details are becoming more fancifully modern and minimalist, as befits the sleek lines of mid century design.
The wolf resembles an early version of his clever cousin, Wile E. Coyote, but sounds more like Foghorn Leghorn's nemesis, Barnyard Dawg. Mel Blanc truly had many voices to speak in!