This segment is a detailed spoof of the game show You Bet Your Life, as hosted by Groucho Marx, which debuted on radio in 1947 before moving to TV in 1950.
Whenever something happened in You Bet Your Life, Groucho’s theme song (“Hooray for Captain Spaulding” from the Marx Brothers' Animal Crackers (1930)) would play. The same thing happened here, except Yakko's theme song is “I Am the Very Model of a Cartoon Individual” from episode 3 (which is taken, of course, from “I Am the Very Model of a Modern Major-General” from The Pirates of Penzance).
Yakko holds a pencil instead of Groucho’s trademark cigar.
On the original show, when a contestant would say the secret word, a toy duck resembling Groucho would drop from the ceiling with a $100 prize.
DOT: Fuzzy Wuzzy was a bear/Fuzzy Wuzzy had no hair/Fuzzy Wuzzy wasn’t fuzzy…/So he changed his name to Ed Asner.
Ed Asner is a bald, portly actor best known for playing the character of newsman Lou Grant on The Mary Tyler Moore Show from 1970 to 1977 and then in the spinoff Lou Grant from 1977 to 1982. In his later years he has also done a bit of voice-acting: he’s both Cosgrove from Freakazoid and Carl Fredricksen from Up.
Horses besides Pharfignewton and Daddy’s Little Angel racing in the Derby:
Flamiel = Mr. Director’s favorite word
Isle of Yap = a callback to “Win Big”, the first PatB segment, which had this as a Jeopardy Gyp-Parody category
Leggo-my-Egoiste = a combo of “Leggo my Eggo”, an advertising slogan for Kellogg’s Eggo brand frozen waffles dating back to the ‘70s, and Egoiste, a Chanel-produced cologne which had a famous ad airing in the '90s.
BRAIN: This is Ed McMahon for Publishers Smearing House. You have just won ten million dollars.
We’ve already covered Publishers Smearing/Clearing House in a previous entry; Ed McMahon was a comedian and TV host who is widely, but mistakenly, associated with being their sweepstakes presenter – in fact, he worked for their rival, American Family Publishers.
“The New Game Show” spoofs elements of the game show Let’s Make a Deal (e.g. dressing up in bizarre outfits and having joke prizes behind Door #X), including a caricature of original host Monty Hall. LMAG has been airing in fits and starts since 1963 and is currently hosted by Wayne Brady.