[[WMG: The Greedy was part of an AbortedArc about the SevenDeadlySins]]
They got as far as Gluttony before realizing 1. they didn't know where they were going with that idea, 2. it would make the movie way too long, and 3. they didn't know how to get Lust [[GettingCrapPastTheRadar past the radar]]. The horrifying taffy monster stayed because, hey, why waste perfectly DerangedAnimation?
* Babette might have originally been intended to represent Lust (just look at the her depiction in the pirate ship scene near the end, and listen to the song again).
* The "Babette" part of the theory doesn't work because she ''inspires'' lust; she is not herself lustful.
*** Perhaps the pirates would be lust?
* Still, it's easy to see why some would think they were going that way. King Koo-Koo could be said to represent pride.
* The sea monster, Gadzooks, could conceivable represent sloth. He's first seen napping in the ocean, he tells King Koo-Koo he's bored and his overall demeanor is slow, laid back and just going with the flow.
** You could even say it's a "idle hands are the devil's playthings" theme, since the bored monster is easily swayed by King Koo-Koo into tickle torturing a bunch of random people/toys just for something to do.
* Koo Koo could also represent envy, he wants to be a tall king.

[[WMG: This is all just a drug trip hallucinated by a disgruntled animator.]]
It explains ''everything''. The last thing the animator saw was a Raggedy Ann doll.
* Dear Jesus Christ! Thank God the last thing he saw wasn't a ''VideoGame/MetalGear'' game! Though to be fair, this was 1977. But yeah, I agree. ...you have to admit, where did the ''normal'' scenes come from?
[[WMG: The middle act is all just the dolls and the Camel playing Pretend.]]
The end reveals that the ocean the pirate ship was sailing on was nothing but a small pond in neighbor's backyard. The Greedy and Looney Land may have been the toys playing 'Pretend'. The Looney Knight, King Koo Koo, the Looney citizens and the pirate crew were never toys, or indeed, never actually existed. Although, King Koo Koo may have simply been a discarded bag of bubblegum.
* See the Marcella theory below.
[[WMG: The Camel with the Wrinkled Knees is suicidal, and his hallucinations are [[DyingDream visions of a happy, shiny afterlife]] beckoning him to [[DrivenToSuicide join them]].]]
Makes sense considering the Camel's [[TheEeyore default demeanor]] and disregard for his own well-being whilst chasing the imaginary camels in the sky.

[[WMG: The Greedy is actually another escaped subject of the same tests [[{{Manga/Akira}} Tetsuo]] was subjected to.]]

A taffy monster? That's just his cover story.
* Then he'd have a sexy anime voice like Tetsuo has. So that can't be the case.
[[WMG: The movie is just Marcella playing with her toys.]]
The whole thing is just the fantasy of an imaginative seven-year-old girl.
* Supported. Combine this with the "dolls playing pretend" theory above.
[[WMG: The Greedy was an earlier form of Charlotte from the anime ''Anime/PuellaMagiMadokaMagica''.]]

He (actually she) even wants to eat Ann's candy heart the way Witches devour Soul Gems. (Wouldn't be surprised if Charlotte was in fact somewhat inspired by the Greedy; Creator/StudioShaft and Creator/AkiyukiShinbo are pretty artsy, and Creator/RichardWilliams is well-known to animation buffs.)

[[WMG: The entire movie of AllJustADream]]
* It would definitely explain the weird and trippy images.

[[WMG: Raggedy Ann and Andy are [[Series/DoctorWho Weeping Angels]]]]
They don't blink. Enough said.