Bugs Bunny stuck out four signs to lead Elmer Fudd to shoot Daffy Duck. (They are all in capital letters.) In order they are: 1st: GOAT SEASON OPEN; 2nd: DIRTY SKUNK SEASON; 3rd: PIGEON SEASON; 4th: MONGOOSE SEASON.
All three characters break the fourth wall in this short.
A Fricassee is actually a type of stew, where the meat has first been browned in butter and is then served in a sauce made from the cooking stock. Rabbit, veal and chicken are the usual varieties.
Bugs refers to the saying "Slower than molasses in January!" after Elmer shoots up his cup.