Even Chuck Jones admits he learned the art of the cartoon gag from Tex Avery. "The Legend of Rockabye Point" was nominated for an Oscar in 1956 and is a fine example of Avery's skill with the medium. The story is one part urban legend, nine parts lunacy, and relentlessly funny.
Gather the kids:
Bonus fun facts: Chilly Willy and the polar bear are voiced by Daws Butler, who lent his pipes to the majority of cartoon characters for Hanna-Barbera, including Yogi Bear and Snagglepuss. Dal McKennon portrays The Skipper. McKinnon's less well known, but no less acomplished -- he voiced, among others, Archie Andrews and Wally Walrus. (And liked alliteration?)