It's magician Presto DiGiotagione and his Hat of Wonder. The top hat is actually connected to a wizard's cap. His rabbit wants a carrot and is not willing to cooperate in the teleportation trick until he gets that carrot. Presto keeps trying but rabbit outsmarts him at every turn. It is a non-stop string of slapstick hijinx. Presto's failures only make the audience laugh even more. This is a lot of fun. There is no dialogue and these are not known characters. This is a fun five minute skit. It's a Pixar short that hearkens back to the best of the old Looney Tunes cartoons. The animation looks great. It's not the most complicated thing but these characters are worthwhile to have more done with them.