This is very impressive and it's imaginative. I can tell there was a lot of inspiration behind these character designs. It's fun and creative.
My main critique is the animation itself. There is a heavy reliance on the use of zips and smears for basic motion, and the stretchy-bounciness to influence a cartoony atmosphere becomes exhausting if you don't mediate it with some amount of weight to the character's actions and physiques. It kind of feels like the animator(s) weren't very confident with their artistic liberties to play around with their characters and just relied on Animaniacs/Tiny Toon Adventures zaniness to keep a level of interest, which I personally believe is the wrong way to go about it.
There were times where it looks like the animators had some idea of how they wanted to exaggerate their characters (like with the horse guy's freakout) but then decided to play it safe by relying on vintage cartoon gags (like morphing into a train whistle) at the last minute.
There is a lot of promise for the animators and storyboard artists, because I really do like the effort and the characters, I think that they should work on figuring out how to capitalize on their artistic abilities, because they're really good.