Meet the Feebles - by Peter Jackson (1989)

Heidi, the star of the "Meet The Feebles Variety Hour" discovers her lover Bletch, The Walrus, is cheating on her, and with all the world waiting for the show the assorted co-stars must contend with their own problems. These include drug addiction, extortion, robbery, disease, Drug dealing, and even murder. While this is happening the love between two of the stars is threatened by the devious Trevor the Rat, who wishes to exploit the young starlet for use in his porno movie business.