I'm just sort of thinking, trying to figure out how the muppets could jump the shark.
Let's see, it would be physically impossible for them all to jump at once. So Gonzo would try to push them all into his cannon. But then some one would point out that if they were all in the cannon, no one could light the fuse. So Crazy Harry would stay behind to light the fuse, because... well, he's Crazy Harry. So it then it would be time for everybody to get into the cannon, but of course, Miss Piggy wouldn't fit, she would get stuck, and the usual chaos would ensue.
At about this point, we would see Statler and Waldorf sitting off to the side, and they would say that of course the muppets were having trouble jumping the shark- they were already as bad as it gets.
So they would eventually get Miss Piggy un-stuck from the cannon, and everybody would get out and try to come up with a plan b. They would end up taking Fozzie's suggestion- ask the shark for advice on how to jump it. And why not, they don't have anything to lose.
So it turns out that the shark is a female singing shark who has always wanted to make her big break in television. She would then, of course, start singing to prove her talent (or rather lack thereof), and start flirting with Kermit to try to get on the muppet show. And as Kermit starts to explain that the muppet show wasn't on the air anymore, the shark makes one last attempt to win Kermit's favor by kissing him on the cheek.
This, of course, is the biggest mistake the shark could possibly make, seeing as Miss Piggy is right next to her. The shark is, of course, very powerfully karate-chopped. So powerfully, in fact, that- well- the shark jumps the muppets!
It ends with a bang as Crazy Harry finds some dynamite lying around.....
Hm, need a way to get the Electric Mayhem into it. Well, Animal would of course shout "JUMP SHARK! JUMP SHARK!" at some point. And while Miss Piggy is stuck in the cannon, everybody gets a chance to take a jab at her about her weight WITHOUT getting karate-chopped.
. Let's see, we need some penguins, of course.
Maybe they'll all be trying to show the muppets how easy it is to jump the shark.
You know, I just might be putting too much thought into this. Meh, it's possible. Or I could just be doing an excellent job of procrastinating my homework to after dinner. Which has just been announced. So I will leave you with this sampling of my insanity.