This joke mutated from one I heard in a standup routine a while ago. The comedian, whoever it was, was goofing on animal rights activism and pointed out what nasty little bastards minks really are. (They make weasels look like koalas.) He said, essentially, that if a mink could kill you and wear your skin, it wouldn’t hesitate. True dat.
I can’t imagine what this clip was originally intended to illustrate. It’s baffling.