Did Don Hertzfeld (of Rejected fame) get a gig to do animation for Kellogg's Pop-Tarts ? It's pretty close to the style (especially near the end), but this guy says it's not Hertzfeld (search for “Hertzfeld” on the page, and you'll see a frame from a related TV commercial), and there is nothing about it on the news page of Hertzfeld's site. On the other hand, those two animated fuzzballs atop the left column of the news page look even less Hertzfeldian than the Pop-Tarts animation does.

Thanks to S₀, always on the cutting edge of cereal tie-ins.