The title of the cartoon is a pun on the popular touring ice extravaganza, Ice Follies. Such shows were extremely popular at the time.
The fridge is stocked with the popular go to dessert, colorful gelatin molds (Jell-O).
Absolutely beautiful attention to background detail is shown here, right down to the frozen icicles on the kitchen wastebasket and stool.
With television still in its early days, cinemas were still very popular. A cartoon such as this would have been shown as part of a complete show, including a newsreel, travelogue, and an animated short. While children would have enjoyed the slapstick comedy, adult moviegoers would also have appreciated the rendition of the very latest in mid century home accessories as shown here.