That writing on the wall about glorifying the American doughnut is a parody of the Ziegfeld show Glorifying the American Girl. And that's some line about ohyodo.
The bandleader in this scene is Charles Gaylord. He was a violinist and "sweet trio" singer in Paul Whiteman's Orch in the late 1920's. I was able to read his own bio and he credits himself in this film.