The action doesn't take place in a specific location, but everything happens in a theatre, on a stage where a magician did his performance.
This short was originally thought differently than the final result. The idea was about a magic act including a magician and a stage fright rabbit, but they changed the short's actions to something funnier and far more entertaining.
Vaudeville-era magician Presto DiGiotagione is famous for a hat trick where he pulls his rabbit, Alec Azam, out of his top hat. The short talks about the revenge of an unfeeded rabbit against his master, who only uses Alec for his acts, and always forgets to feed the poor animal. The rabbit obtains something more than his initial revenge, something unexpected by everyone. He achieves by accident to create a special bond between the both of them, and make a greater show.
I saw lots of shorts before deciding which one I'll write about, but this one was the only one which truly made me laugh. It's funny, entertainig, and it has it all. In my opinion is one the best short ever made. What I liked the most was those amusing moments of both, they make a great team.
Here you have the amazing short, Presto: