Ed McMahon is handling most of the intro. Johnny appears disinterested, letting Ed do the work.
Ed mentions the name of the sponsor, Vick's, explaining that they are currently holding a business convention in Boca Raton.
At this point, Carson, whose legendary aversion to extra work, especially sponsor PR, suddenly comes to life with a sarcastic aside about Boca, followed up by his famous sincerity.
Now, Carson's frustration with stroking is kicking in, leaning into what will shortly implode, and demonstrating his ability to instantly feign interest if necessary, or slyly disparage, if bored--generally amusing his guest and livening his audience simultaneously.
In this case, the absurdity of small talk regarding a sponsor's convention and its whereabouts snap whatever distractions occupied Carson previously.
Without quoting from the 1:38 of this clip's raunchy arc, and final 'coup de faux pas,'
I'll summarize:
*Johnny asks Ed if he's ever been to Boca, sarcastically insinuating that it's probably not his favorite place.
*Ed replies.
*Johnny, his irreverence now piqued, while also trying to 'corpse' Ed, quickly asks if he knows about the product which they had discussed earlier before the show.
*Ed says yes, and reminds him of it's name ['Dismiss,' by Vick's].
*After Ed states the name of the product, briefly describing it as a feminine hygiene application, Carson is immediately primed and committed; as the absurdity of product and name collide, he realizes he's being transformed from the carefully groomed image of cool into that of a traveling, medicine show barker--he lets loose his first expletive-free exclamation as ice-breaker, but this will be the only reining-in, approaching his normally obeisant, time-slot-appropriate, imperative to stretch but not transgress the FCC's 'S&P'.
*Here's where I'll conclude my summary [for those of you who read these descriptions]--
The ultimate, never-before-seen, uncensored, video document of not just a middle-aged Johnny cursing on television, but a picture of Carson's Midwestern 'host' psyche letting go and demonstrating on camera here, what is usually reserved for his staff, writers, and meetings...or perhaps more appropriately, a night with Redd Foxx, or even a pint out in Edinburgh.
Heeeeeeere's Johnny!
*Taped during what I'm assuming is pre-show business, Johnny Carson, accompanied by Ed McMahon, appear to be presenting a series of informal 'sponsor promos,' either to tape or via CC feed for various advertisers. I think this may be videotaped rather than a cc feed; both of which were used for PR purposes, sent as incentives to various advertising agencies or large sponsors for in-house use, etc. Going back for another view, I don't hear a studio audience laughing, although there is laughter, which i think is more like that of the crew.