Someone on Bubsy Fan Club found the video called: GamesMaster Challenge: Bubsy in Claws Encounters of the Furred Kind
It was uploaded by Gamesmaster Uploader. The video is from of a show called GamesMaster, specifically Season 3 and Episode 11.
The challenge was to collect as many yarns as possible in 1 minute.
It was challengers we're Ian Hutchinson and James Seger. The commentator was Chris Knight, who was ex-editor of Sega Force.