Sounds like you're mixing up a few different shows. Spaghetti monster is a pretty unique reference though, doesn't exactly scream typical CITV. Closest thing I can think of with mascots and adventures would be 'Zzzap!' but that's a stretch. Those kids' accents might be a key detail, if they were …
Remember someone talking about this at a film convention a while back. Said something about an HBO exec having a copy but that's all I got. Might be worth looking into industry contacts, someone's gotta have a copy gathering dust somewhere.
Detailed accounts of 'The Day The Clown Cried' are hard to come by, but Harry Shearer of 'The Simpsons' fame claims he saw a rough cut in the 70s and said it was 'terribly wrong' for a myriad of reasons. Bad movie or not, from a film preservation standpoint, we …