It seems just as many songs in the second season of The Muppet Show were meant to be serious as they were meant to be silly. An unnamed alchemist wanders through his cluttered laboratory while searching for a formula to restore his youth. He swallows several formulas and steadily becomes younger while he sings of how once he's his desired age he will be able to spend the rest of his restored life with the woman he's fallen in love with. Unfortunately, by the end of the song he seems to ingest a formula that makes him revert to the age he was at the start of the song. What makes this sad is that he never actually wrote down any of what he did, and it's implied that he's now too old to remember which formulas he drank during the song that gave him back his youth. It just shows that the more we try to fight the inevitable, the harder we'll be hit by it.