The gentleman/cow says, "MOO MOO," but he imagines a world of wonders made more wonderful through his slaughter and sacrifice!
Behold the bounty he knows will come from his death: meat (sure), hot dogs (naturally), grapes (um...), apples (yeah, whatever).
He's living in a dream world, but what a dream!
With the butchering of one dapper animal, a cornucopia is made available, released from its accidental origins as the body of an inconveniently live animal.
We conjecture that this… thing is on his way to his own funeral. This accounts for his clothes (or, well, what passes for a full suit of clothes: collar, necktie, and lapels) and that unrestrained smile. He means to meet his destiny with a spring in his step and a song in his heart. Until that, too, winds up in the grinder.
(Image courtesy of interestingideas.com.)