He's little and red and he's coming to get his blanket.
3 seconds sound clip from the The Adventures of Elmo in Grouchland movie soundboard.
You can hear this line at 00:28:02.871 in the Blu-ray version of the movie.
Quote context
[...]
- Look on up to the sky, take that first step and kiss your fears goodbye. (2)
- You better watch out, Mr. Huxley. Elmo's coming to get his blanket.
- He's little and red and he's coming to get his blanket.
- Well, normally I wouldn't, but I am feeling a bit saucy today, huh?
- Perhaps I should toy with the little red monster. But how? No, let me think, let me think.
- Those aren't eyebrows. That's my aunt and uncle.
[...]