'Little Green Weiner'
When Pee Wee is taking stuff out of the grocery bag in the beginning of the show, he pulls out a squishy green toy. He says something and then squeezes it. It sounds something like, "Okay kids, this is a... little green weiner, and" laughs and squeezes it.
Did he really say that? That's hilarious if he did, but it's kind of weird when you consider that 10 years later, he was arrested for doing something similar in a theater.