The first 3-strip Technicolor cartoon released by Warner Bros. Prior to its release, Walt Disney held the exclusive rights to the process.
Fantasia by Disney was still five years away when this colorful short was released, probably an answer to "Silly Symphonies" by that studio. Regardless, it's a delight. The careful attention to detail is marvelous, too.
The spider web harpist is a caricature of Harpo Marx.
The colorful floral parade is likely a nod to the famous Pasadena Tournament of Roses Parade, held annually for the new year. At the time of this short, it was already in its 45th year.
The spider web-playing flower is a parody of Harpo Marx