This is actually the weirdest video i've seen in a while. Great time getting to sleep tonight! I wouldn't want to drown in oil, would i?!  

Posted by Yog

Adding to the theory CM posted, the Red guy seems to miss it for some reason.

Basically the world he lives in is so mundane and boring that he is willing to go back to the crazy antics of his childhood, even if it was designed to brainwash him into doing as they pleased.

I think he represents the middle aged, while the bird represents the elderly and the yellow guy is obviously the kids.