Eskimotive is a 1928 animated short film by Pat Sullivan Studios, starring Felix the Cat.
Much to their surprise, the bubble is too difficult to burst, and Felix goes on to chase his airborne companion for hundreds of miles.
The Arctic became a beautiful lighted paradise, but a local bear does not appreciate it and therefore goes to confront Felix.
The bear then pushes Felix's bubble into a hole in the ice cap where it sinks into the water.
Upon reaching a seafood store in a city, Felix sells the eels he has, receiving a sackful of cash.