First, according to IMDB, the voice of the Pincushion Man in Balloon Land was prolific voice actor Billy Bletcher. He mostly worked in cartoons but apparently he did some radio work too so *maybe* he was in this?

Also, the BVD “joke” was a reference to BVD underwear, which was very popular at the time. (I guess underwear humor was funny even back then.) I don’t think they make BVDs any more but I remember seeing lots of ads for it in the 1980s.