Elmo tries to introduce to the viewer to Wayne Brady, who doesn't think they'll like him as himself. He instead pretends he's a rock star, then a ballerina, then a giant chicken. Elmo assures Wayne that the viewers at home will like him just as he is.
Elmo then introduces Wayne to another friend of his - Giblets. Wayne assumes they are also self conscious and re-assures them that they don't need to pretend to be someone else to be liked. Elmo informs Wyane that Giblets is really a giant chicken, rock star and ballerina. Giblets then heads off to dance in Chicken Lake.
Their name is a reference to famous Russian dancer Mikhail Baryshnikov.