After Bobo the Bear accidentally kills Arsenio Hall, the original guest star, the Muppets must search frantically for a new one while Dr. Phil van Neuter and Mulch succeed in bringing Arsenio back to life, but the result has been postponed until close to the end of the episode. Jay Leno, Kevin Eubanks, Little Richard, Christopher Darden, and Kathy Ireland make cameos.

Gonzo and Rizzo host a collage of video clips of the best moments from past episodes. This was because the pre-recorded episode tape had been eaten by Carl, along with the tape-playing machine during a cheese-eating contest. As Gonzo and Rizzo walk off the stage, they notice that Statler and Waldorf have just finished broadcasting their own show titled The Worst of Muppets Tonight. Of course, they showed the exact same clips that Gonzo and Rizzo showed.