This is the first cartoon featuring the character Speedy Gonzales. However, his depiction here is vastly different from the character he would later become. It wasn't until his second appearance, Speedy Gonzales (1955), that he was re-designed as the character we know him as today.
The cartoon's title is a pun on "Cocktails for Two", a popular song of 1934.
A homage to the character's George and Lenny from George Steinbeck's 1937 book Of Mice and Men, they also appeared in an episode the year before. Hoppy-Go-Lucky (1952)
WB's vendor of choice, Acme, provided the crate of anvils that fell on the hapless George.
The name of the ship, S. S. Pancho Cucaracha, loosely translates to Pancho the Cockroach.