This is dated, big-time, with most of the "narration" done is song and in the old-fashioned harmony of the '30s singers. It's a trip through space by three little kittens in a makeshift air balloon.
The three little kittens had lost their mittens, so it was no milk and an early bedtime for them. They gaze at the stars, see the Milky Way, and figure if they could get up there, they'd have all the milk they want. So, with the aid of a basket and three balloons, they head up into the heavens.
Where the film must have impressed Oscar voters was the depiction of the cheese-filled moon, comets, shooting stars from Mars, the big and small dippers, and all the variations of milk products in the Milky Way. All of those were portrayed fairly cleverly, but nothing exceptional. In fact, the whole thing looks pretty primitive and one wonders what kind of competition there was for the award that year. To have this win an Oscar is very puzzling. It's okay, but that's it.....just okay. I mean, it's a "cute" cartoon but not funny.
I saw this as part of a Marx Brothers DVD which a double-bill with "Go West" and "The Big Store."