Our kids grew up largely ignorant of Sesame Street, and I'm not one bit sorry for that, but this seems to have been written for grandson Joseph.* (H/T Pami)
There might be more of a connection that you might think. While our friends S+J were visiting they sang that along with other songs to Joseph to keep him happy when I was busy. He might well have picked it up from them, and I just made the association with food later when I was trying to figure out what he wanted.
Love it!