The newspaper caption around 3:12 reads "SHEEP DOG LEAVES HIS FLOCK TO JOIN THE WAGS". The Wireless Air Gunners were specialists in the Royal Canadian Air Force whose uniform badge showed the letters "WAG" and "RCAF". Many Americans joined the Canadian military to fight in the World Wars before the US entered them.
The ram does a Charles Boyer impression, which, in turn, would become the signature of WB character Pepe le Pew.
Wartime rationing included meat, sugar, butter, tires, shoes, clothing, and many other products needed for the war effort.
This short likely helped create future WB characters and friendly adversaries Ralph Wolf and Sam Sheepdog.
The female disguise would continue in other shorts, with possums, roadrunners and other critters being portrayed.