I've seen the second version with the Wolf dressing as a fairy but it is in Japanese and was a gift from my in-laws (my wife is Japanese) to my daughter. It's weird in that it combines the stories of the three little pigs with Little Red Riding Hood with the practical Pig coming to Riding Hood's rescue. This version doesn't have the Jewish Peddler sequence in it. I recently rented another video version which sounds like the one most viewers are commenting on as it does not have the Red Riding Hood sequence. The animation, colour, are excellent and the Wolf is terrifying even as an adult. Something about how Disney drew predators in these early films is extremely effective even today.
Review of Three Little Pigs
