Plug-hat billikens

A plug-hat is, I guess, a bowler or derby hat. A billiken is a charm doll that is elf-like with pointed ears, has a mischievous smile, a tuft of hair on his pointy head, short arms, and is usually sitting. Apparently, billikens has been elevated in Japan to an almost god-like status for luck.

This is definitely the most research I've done to understand a title card in a comedy short.