I HAVE 'GRIMM PARTY'! Allow me to set the record straight!
Okay, so as some of you know, I ordered a mysterious tape called FAERIE TALE THEATRE: GREATEST MOMENTS off eBay. It is, in fact, what we have all been referring to as Grimm Party for several years.
The truth is, the episode is called FAERIE TALE THEATRE: GREATEST MOMENTS and it is hosted by Shelley Duvall and Teri Garr. Shelley is taking far too long to get ready for the party where all the stars of the show are waiting, and she hits her head. She then has a dream about being on trial in front of the Brothers Grimm for having changed the fairy tales. She pleads "not guilty" and shows flashbacks from the episodes on a TV she drew on a chalkboard. Throughout the flashbacks, various actors including Rex Smith, Karen Black, Dana Hill, Paul Reubens and many more give insight into their roles. At the end, there is even a phone message heard from Christopher Reeve saying how he loves everyone but he is in London and cannot make it. It concludes with Shelley Duvall waking up, thanking everyone at the party with an actual speech she gave without a script, and then retreating back into the skit with Teri Garr where she talks about the dream.
The entire episode is wonderful and it feels like another fairy tale that is taking place now (or in the case of the episode, 1985). One thing to note is that THE DANCING PRINCESSES is shown in GREATEST MOMENTS, which means that it really wasn't the last episode, which it is said to be according to many sites. Another cool thing is that Shelley Duvall often is blue-screened into certain scenes from episodes, and during the end credits, there are some bloopers from the show on the left side of the screen (Duvall's narration refers to the bloopers as "some of our best kept secrets").
I cannot convert the episode to DVD right now because I recently moved my recorder to the basement, but I will do my best to do so in the future so I can post in on YouTube! I promise! I am a devoted FTT fan and I know you guys are too. I just didn't want to be all "OH! I GOT GRIMM PARTY!" and then leave you hanging, so I provided a detailed post to keep you somewhat satisfied and to assure you I am being truthful in that I really do own the episode.
Thanks guys! I'll do my best to get it up ASAP! Reply if you want!
"Words of wisdom, Lloyd. Words - of - wisdom."
-- Jack Nicholson as Jack Torrance in THE SHINING