Jack's Mother says "we're stony broke," and tells Jack to "find some wealthy bloke." This same rhyme was made by the Banker Pig in Part One.
The wallpaper in Red's home is a pattern of mistletoe, a reference to Part One when a sprig of mistletoe brings Red and Snow White together. It's also the name of the winning horse from Part One.
In Dahl's book, the stories of Cinderella and Jack stand alone rather than overlap as they do in this film. The bridging device of the wolf telling the stories to the children is also a new invention for the film.
The first installment told the stories of Snow White, Red Riding Hood and the Three Little Pigs. This installment tells the stories of Cinderella and Jack and the Beanstalk. Roald Dahl's book contains a sixth story, Goldilocks and the Three Bears, which is not represented in these shorts.
The scene of the wolf reading to the children is based on the cover art to the book, though in this case the wolf is not dressed like a babysitter.