The best part of this album is the cover and gatefold, a dead-on remake of the Saturday Night Fever soundtrack that sold so many copies the year before. The four-panel "Grover and his disco moves" section in the middle of the gatefold is priceless.
The album features six songs, including disco-fied versions of Sesame Street classics such as "Rubber Ducky" and "C is For Cookie". The funniest one in my opinion is "Doin' the Pigeon", in which the always-grumpy Bert has "no intention of getting [Sesame Street Fever] ... everybody's dancing all over the place ... it's silly!" Eventually, though, Ernie convinces Bert to "get down", and soon enough, everyone is "Doin' the Pigeon".
Here is an image of the gatefold: