I bought this years and years ago, and have never seen it, owing to the dearth of 16mm projectors in my life these days. It came in a small orange cardboard box marked Kiddy Toy Safety Film. It was about 5' long (additionally rendering its viewability problematic) and was intended to be viewed in some sort of toy movie viewer/projector.
It's been driving me nuts, wondering all these years what's on the film. The protagonist, named Kitty Cat, bears a striking resemblance to Otto Messmer's Felix the Cat.
I put the film in my scanner, scanned it at 1800dpi or so and dragged each frame through a 720px x 480px window saving each frame and then dropping it all into Movie Maker with properties set at .125 seconds per image. The results are below.
The motivation to experience this stems from years of Kenner Give-a-Show projectors and ViewMasters. There's the insightful bloggish psychological bit.
Lastly, it's a little washed out, because the original is a little washed out.
Looks good? Blow it up & see.
Enhancements did little to improve, but did not really worsen it. I added some music appropriate to the content and voila'. I was urged by my son to not desaturate, and aesthetically, I agree.