Sounds like low budget children's programming music. It's a tad monotonous and repetitious. At least you warned us that it would be the "most annoying" entree. Right on about that.
But compared to truly annoying music (and I mean really bad stuff), this is a veritable masterpiece. I can speak from experience when I say that most annoying songs (like really annoying people) are the the ones that have no idea how annoying they are. (I've written plenty.) They're not trying to be annoying, they just come across that way in all their ignorant obsequious earnestness.
And this song starts out perfectly... Could be an old Tom Paxton or Arlo Guthrie song but there some mixing issues when the banjo and (what I assume to be) the toiletpaper tube come in. The banjo is too low and the percussion too prominent. Is the tube the choppy percussive sound? Overall the mix could use a little warm prescience - maybe compression with a bit of tube preamp drive to saturate the sound more. In the second chorus the percussion is better placed. Now after 1:11 when everything goes all mental with the Buffer Overide-like EFX, I wonder whether it's worthwhile to criticize anything about the previous section because at that point the formal aspects of the song are anyone's guess. So take it with a grain of salt.