Tex Avery at the peak of his game. This is one of the numerous takes Avery made of fairy tales. It isn't one of his three Red Riding Hood shorts, but both Wolfie, Red and a woman who is an obvious analog to Granny are here. They just get squeezed into the Cinderella story.
Things open with Wolfie chasing a Juvenile Red across the opening credits, until she points out that the cartoon is supposed to be about Cinderella, whereupon the Wolf sends her off, and makes a beeline for Cinderella's place.
Cinderella, in civvies, turns out to be a barely disguised Red (as in 'Red Hot Riding Hood'), but she avoids his amorous advances by phoning her fairy godmother (in a voice that turns out to be about halfway between Joan Crawford and Katherine Hepburn). "There's a wolf in the house?" Godmother is over there as fast as lightning, and what ensues is much like the final scenes in 'Red Hot' Except this time Wolfie escapes, or at least arrives at the nightclub ahead of Godmother. After this, though, he has to put up with being unbearably aroused while Godmother smashes him with a mallet whenever he gets out of control.
The Cinderella gag comes in when Red realises it's nearly midnight and she has to rush off home (for her night shift in the Lockheed Aircraft company, or whatever they called it in the cartoon). Wolfie is left to deal with Godmother.
It's a classic cartoon, with Wolfie doing more double takes, triple takes, quadruple takes, erection takes, and general sexually aroused images than a censor could shake a stick at today. Add to this Avery's gonzo direction, and frankly, they don't get a lot better than this.