The title/story is based on the English fairy tale of "Jack and the Beanstalk", first published anonymously in London by Benjamin Tabart in 1807 as The History of Jack and the Bean-Stalk.
The ending scene, where the character ends up on the other side of the globe, was also used in the Roadrunner short "War and Pieces."
Not only does Sylvester break the fourth wall, he refers to Tweety as a Tweety Bird.
The background here is more abstract, as befits both the fantasy aspect as well as the changing trends in design towards modern, streamlined images. But some fine details still remain.
The giant resembles Mel Blanc a bit, though with a full of head of hair.