From Muppet Wiki

With a cover boasting "Over 200,000 funny combinations," this spiral-bound book consists of forty-eight flaps which, as the title implies, can be mixed and/or matched up with others in order to tell a variety of stories.

The first flap features one of eight characters who are in the process of some action as shown in the second flap. The third depicts a location, with Cookie Monster in several roles on the fourth. Any one of eight different things happens to an object in the fifth, which results in the outcome on the last flap.