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Not to be confused with the more familiar Green Farley (although both are performed by Jerry Nelson), this character's name being "Farley" derives from the home video Rock & Roll! where the on-screen text accompanying the "Forty Blocks" video credits the boy as such.
The Rock & Roll! credit could be a mistake made behind the scenes, given that the song is sung by Jerry Nelson in a voice similar to that of the more familiar Farley. Nonetheless, although this boy is noticeably a different character, he is still officially credited — mistakenly or not — as "Farley."