The Knick Knack short included is the 2003 remake made for Finding Nemo's theatrical and home video releases. The reason why the original 1989 version isn't shown is due to controversy with the Miami girl and the Atlantis girl having exaggerated chests (which can found on YouTube).
A recopilation of every short such as Tin Toy, One Man Band, Mater And The Ghostlight, Knick Knack, Geri's Game, Mike's New Car, Lifted and many more shorts making them the pixar short film collection volume 1 and it reminds me of Walt Disney Animation shorts from 2015.