Yes, this skit does exist, and it is one of my most treasured Sesame memories ever. Hopefully sometime it will see the light of day again. Here's the lowdown:
Part One: A boy Muppet (voiced by Jim) is happy because he has a bag full of jelly beans (and jelly beans are the greatest!). He comes across a girl (Betty Lou, voiced by Frank) who's crying because she lost her own stash of jelly beans. The boy generously offers her his bag, and she is beside herself with glee.
She wanders off, ecstatic at her good fortune. The boy is happy too, because he made the girl so happy, until it dawns on him he has no more jelly beans of is own. So he bursts into tears, and as this episode ends, we're left in suspense wondering if the boy will ever see his jelly beans again. Stay tuned, folks!
Part Two: The boy is over his crying jag, and he finds the girl who is now shaking in fright, because a monster tried to take the jelly beans. The girl somehow decides to give the jelly beans back to the boy, who is happy once more (Re-u-ni-ted and it feels so good!). Until the big bad evil ugly Beautiful Day Monster shows up. The girl is calm as can be, but now the boy is shaking in his boots. The girl leaves the boy to fend for himself, and the monster eats all the jelly beans, and plants a big wet kiss on the boy. He's a little sad because his jelly beans are gone, but at least the monster is not a threat any more. Oh, the drama! Don't touch that dial folks. We're not done yet!
Part Three: Now the boy is worked up into a furious rage, for losing his jelly beans twice in one day. Lose them once, you feel sad. Lose them twice, it really makes you MAD! He's ready to go postal on someone. He bumps into the girl again, who's equally mad because she found HER jelly beans, but she has no bag to put them in. (If she had jeans, she could have a pocketful, but that's another clip!) The boy is just as miffed for having an empty bag with no jelly beans in it. Then they both have an epiphany- she could put the jellybeans in his bag. She invites him to come home for dinner, and they can have jelly beans for dessert. So they both leave on a happy note, we get to see the characters express a full spectrum of emotions, and if anyone would/could ever post this on youtube, I'd be the happiest little boy on the face of this earth.