An announcer recites an altered version of the nursery rhyme: "The Old Woman Who Lived in a Shoe", with the alterations telling us a narrative of how the titular old woman from the poem gets rid of the smell of stinky feet permeating the shoe she lived in by using Dr. Scholl's Odor-X Insoles:
There was an old woman who lived in a shoe,
It smelled of feet so badly, she didn't know what to do,
It dawned on her to try Odor-X insoles,
And she whipped the smell soundly, thanks to Dr. Scholl's!
And as we are read this altered nursery rhyme, we see what transpires in the story play out in the form of a silent movie short (in color, though). And what we see is the old woman moving into (or entering, carrying a suitcase inside, at least) the shoe/home and noticing that it smells unpleasant inside, just like the inside of a shoe would be liable to smell. So she tries a spray can of air freshener, a Glade-style plug-in, and scented candles (shown in rapid succession via jump cuts), but none of them works. But then she has a eureka moment, realizing that since she's living in a shoe, perhaps she should try what works best to rid shoes of odors: Dr. Scholl's Odor-X Insoles. And now, thanks to the Dr. Scholl's Odor-X Insoles, her house is odor-free and smells wonderfully fresh! And then the announcer says that if it works to make an enormous shoe with someone living inside of it smell fresh, imagine how well it will work on the shoes people wear on their feet!
This is the Wikipedia page for the poem: "The Old Woman Who Lived in a Shoe":
https://en.wikipedia.org/wiki/There_was_an_Old_Woman_Who_Lived_in_a_Shoe
