Laurel and Hardy are sorta fun (though they hit as much as they miss). However, they're shoehorned into a children's film that isn't interesting enough to be worth the watch. A bare-bones plot and dull musical sequences mean the film just plods along.
Even when recognizing the year the film was made, everything looks incredibly artificial. Whereas 1934 films such as 'Franksenstein' or even Laurel and Hardy's 'Hollywood Party' are able to use sound-stages effectively, the camerawork here is lacking. This is especially noticeable in the Toyland scenes, where the director seemed hellbent on capturing everything. This means you can see up and above the set, which often reveals the emptiness of the building they're shooting in.
It's amazing the 'Wizard of Oz' would come along just five years later.
As a side-note, some of the costumes are ab-so-fuckinglutely terrifying. The pigs are stuff out nightmares.