Inglorious Basterds parody. The elephant thing supposed to be Dumbo, who is owned by Disney who they say (I am neither confirming or agreeing with, just repeating) was like to the Nazis.
Once again, half of the "moments" were from later season and weren't funny in context and were even unfunnier without context. Try to watch best moments or even whole episodes from season 3-9 and you will see why the Simpsons were such a juggernaut in the early 90s
4:27 because his boss payed him to torture the Comic Book Guy doing that. By the way the thumbnail is clip bait Homer Shinning scene never appears her.