This has an odd introduction as we see a stuttering "Petunia Pink" being introduced as a new star for Looney Tunes. She doesn't do well, let's just leave it at that. After that minute bit with her, the opening credits suddenly appear.
Then we see an obviously-in-love Porky buying diamond rings, candy, flowers, etc., and we hear a great song "I Want to Woo" or something with great lyrics. Pay attention to them and you'll get some laughs. Poor Porky isn't laughing, however, after he arrives at Petunia's door and gets the brush-off.
The shallow Petunia glances at Porky walking away and sees the big box of candy, runs and snatches that and Porky back to her house. She then pigs out, big-time, on the candy. Poor Porky can't share in that because Petunia's dog "Fluffnins" growls each time he reaches for a piece (of candy). Not only is Petunia bad news, so is her trained dog. In no time, heartbroken Porky is out the door while the sadistic girl he loves laughs at him. This is pretty cruel stuff.
The last half is not unusual in old cartoons: the main character has a dream where he sees the future and finds out losing his girl wasn't so bad, after all! The only funny part of this entire cartoon, frankly, was the very end when Porky gives his two cents to the dog, too. Otherwise, there isn't much to this.