Greatness! I remember those odd things from when I was a kid XD they kinda creeped me out then but now it's just cute and funny as hell espically with the Cloud and Sephiroth parody.
Two people on Deviantart made these characters years ago, and an artist named figsf drew this fanart of them, originally titled "Sefeeroth and CLOOOOOOUD". I'm pretty sure Danbooru is the last place on the Internet to find this picture.
HAHAHAHAHAHA! please stop! STOP! this, this is just too funny! AHAHAHAHA! can't stop laughing! HAHAHAHA! I love it! yip-yip alien as Cloud and Sephiroth, good one! pure awesome man, awesome!
Nope, the yipyips are a couple of weirdos from early "Sesame Street". Watch public Television before the plug is pulled on them and you'll see for yourself.