Is King Hippo's intro theme based on anything?

[WandringMinstrel]

I've been trying to figure this out for a long time: Is King Hippo's theme from Punch-Out!! (NES) based on any pre-existing song?

Most of the other boxers have intro music that either comes from or is inspired by their country of origin (Sakura, Sakura for Piston Honda, Song of the Volga Boatmen for Soda Popinski, etc.), but I cannot for the life of me figure out if that also applies to King Hippo's little waltz. It's clearly not from the Pacific Islands, it sounds more like something Strauss or Tchaikovsky would write.

It very well could be an original song, but if anyone recognizes it, let me know. I'm at a loss here.