I am sure this looked awesome to audiences back in 1936. They had seen color cartoons before but probably not anything this colorful. I had read where the visuals were fantastic in here but, after viewing hundreds of animated short features in the last year, I didn't find this extraordinary and I love great visuals.
Basically, it's just a bunch of little gnomes who live underground and sleep all winter. When spring arrives, it's their job to pump color into the landscape, so for most of this 9-minute cartoon we see them working feverishly to produce to the color. Meanwhile, "Ole Man Winter" gives it one last gasp to keep things dreary. At least that was my "take" on that segment. Living where I do, I've seen that happen many springs. Winter, sometimes, does not leave without a few last reminders.
After reading those glowing reports, maybe I expected more. The story was boring and seemed to go on way too long.