This was one of the most lavishly produced Warner Brothers shorts of its era, featuring elegant costumes, expensive sets and special photographic effects, all filmed in beautiful three-strip Technicolor.
At the time he starred in this, Scotty Beckett (Prince Charming) had already appeared in numerous Our Gang shorts, and would later go on to co-star with Elizabeth Taylor and Jane Powell in the M-G-M musical A Date with Judy.
This short was produced toward the tail end of Shirley Temple's reign as Hollywood's #1 box office star, and it's reasonable to assume it was made to showcase young talent that Warner Brothers may have thought had a shot at replicating Temple's success.
Vitaphone production reels #9778-9779.