Babes at Sea
A toddler chases a frog out of his house to a nearby well where, falling into the bucket, he arrives at the bottom of the well, to be magically greeted by underwater seababies and various creatures, including the octopus law officer. Eventually he returns to the well bucket and is raised back up to be rescued by his mother.
Directors: Arthur Davis
Writers: Arthur Davis
IMDB: tt0147865