Most of my childhood was in the 1990s, and I didn't see this Australian kids' show when it was first on in 1992 (it may have taken it a while for it to air on North American TV), but used to watch it on TVO around the mid-nineties. I may not have been as heavily into "Bananas in Pyjamas" as I was with certain other kids' shows aired on that station, but I enjoyed it for a while.
The two main characters were B1 and B2, and the show's title describes them very well. They lived on Cuddles Avenue, which was also the home of three living Teddy Bears named Lulu, Amy, and Morgan, as well as a rat named Rat in a Hat. B1 and B2 were rather mischievous bananas, who liked to play tricks, and for them, Tuesday was the day for them to chase the teddies. The two often found themselves with problems to solve, and so did the other characters.
It appears that "Bananas in Pyjamas" turned out to be a huge hit with little kids, which is not surprising. The show had a lot to amuse them with, including all the characters, the humour, and the plots. Like most shows of this kind, it could also teach lessons. I may have been a bit past the show's targeted audience back when I watched it, but that didn't stop me, even though some obviously wouldn't have thought anything of it at that age. It seems that "Bananas in Pyjamas" has pleased many little kids, and probably some older kids as well, and its success was well-deserved.