Am I just really stupid, or does this joke make no sense?

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Wtf does this mean

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Saw this on TikTok

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Peter what am I missing

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Hey Peter, what's so funny about this?

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Petah when did Elongated Muskrat become antisemitic?

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peter what the hell does that mean?

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Indeed

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not even once

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Being good-hearted, Hector

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yay! the third time I got it

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