This PSA is entirely in Japanese. Kids are making a treehouse. One of them falls but Quick Kick arrives just in time to catch him. A conversation in Japanese takes place, but consists mainly of basic greetings ("What time is it?", "Nice to meet you" or "How are you?") and has little relevance (when translated) to the incidents in the PSA. The closing chorus is sung in Japanese ("Jii wara tashi fu sukuru!"). The timing, music, and ending are all parodies of classic anime.
This is FenslerfilmPreserve, a YouTube channel dedicated to preserving the classic Fenlerfilm GI Joe PSA parodies. Every single parody has been uploaded here, remastered by Bronx Rican (using the original audio from the PSA and DVD-quality video from the original PSAs).