A crash-course in how to murder any remnants of wit within a comic set-up through the implementation of pseudo-jingoistic propaganda, Bugs Bunny (sigh) Nips the Nips constitutes a tease. Just when you think it might produce and run with something funny - i.e. the sumo grapple - BANG with the dim racism.
Hearing Bugs dole out racial slurs as he hands the Japanese sticks of dynamite definitely makes it tough to watch without cringing. Still, the comedy is pretty much on par with what you can find in other Bugs Bunny shorts. Bugs dresses as a lady. Bugs fools people that are chasing him by jumping into his hole and appearing behind them. If the Japanese were something less insensitive, people would eat it up. Hard to appreciate it when it's so blatantly and openly hateful though.
Freleng ought to be ashamed of himself. I get that it's a product of its time, but it's not even slightly funny - and I can find the humour in most of the censored shorts. The whole bit is just Bugs beating the tar out of Japanese soldiers and calling them "monkey face" as if that's the height of comedy.