We see a school play, with elementary school students acting the best they can in front of an audience of parents and schoolteachers. Then, after the play, we see all the young actors waiting in anticipation for who will win the prize for the best acting: the "Oscar", which ends up being an Oscar Mayer hot dog. Then we see the kid who won the "Oscar" smiling and biting into the delicious hot dog (on a bun), and the camera pans over to other student actors who look over enviously at the award-winner, and one of them says that next year she wants to win the "Oscar", and licking their lips, the others say they do too.
Then, the announcer says that to reward something exceptional: "Give them an Oscar: an Oscar Mayer wiener!"
Then for the next ad in this Oscar Mayer Oscars campaign would show some waif of an actress winning an Oscar, and she'd get up to the podium and say: "Oh, I was hoping it was an Oscar Mayer hot dog. I haven't eaten yet. I'll accept this, but then I have to go get an Oscar Mayer hot dog: I'm starving!"