That brings back memories! Thank you for the link!
To enjoy this parody, you need to realize that it was made in the '70s, and naturally uses '70s pop culture references, not to mention Canadian political references. For example, two of the children in the sketch - Justin and Sascha - are the names of two of then-Prime Minister Pierre Trudeau's sons. They were just little kids then; nowadays Justin is a Member of Parliament and Sascha is a journalist.