I don't know if anyone else has ever seen or heard of Muppet Classic Theater, but I think that even Statler and Waldorf would find this one unbelievably absurd (which is quite normal for them, even when they're not sitting in their theater box).....
http://www.muppet.wikia.com/Muppet_Classic_Theater
It consists of 6 fairy tales:
Rumpelstiltskin (played by Gonzo), The Emperor's New Clothes (with Fozzie as the Emperor of Fozzalia), The Elves and the Shoemaker (the elves look like Elvis Presley), The Three Little Pigs (with Andy and Randy "This job's too hard!", and Miss Piggy as Sandy), King Midas (with Kermit in the title role, and Miss Piggy as Queen Midas), and Gonzo as The Boy Who Cried Wolf.
I haven't actually seen this (I just found it on the web while looking up other movies featuring the Muppets), and it sounds like the Muppets with a Fractured Fairy Tales twist, but if any of you have any memories of this, feel free to share.....