The episode features a small village filled with excited puppets. The carousel is coming!
The carousel is overseen by the Horsemaster who wears a strange costume and a nose ring. “Come ride the wheel!” he tells the puppets. The carousel is a rainbow of colours (or maybe projects a rainbow).
Then the villain appears! The Baron is riding in a cart and wears a bowler hat. He crashes his cart into the carousel and breaks it. However Cogsprings fixes it and the villagers are able to ride the carousel again.