The first thing I noticed about this Walter Lanz cartoon is the big credit on the opening titles to Walt Disney, from whom Oswald had been stolen two years earlier. At the moment, Disney was the biggest thing in animation and I'm sure they thought it would help sell the cartoon.
This is one of the synchronized Oswalds, which means that 90% of the gags are set up to work with a simple musical background. The gags are of the most extreme 'rubber hose' variety imaginable: everything, houses, cars and especially bodies, is infinitely stretchable. These are very good examples of this sort of animation and if the figures are primitively drawn, their mutability fits right in.
There's also a long repeating series of gags as a small baby walks through the set, asking "Is my father in there?" The payoff, at the end, isn't worth it.