Well, I'm not even sure if this was animated in Japan (might be American or European...) but I'll give it a shot. Posters here know everything.
There's this bear (or some other cute furry anthropomorphic mammal) whose dream is to travel to Panama because he finds an empty crate with "Panama bananas" on it. He thinks the place must be like heaven because the bananas left a nice smell in the crate. With his friend (another cute animal), they set out on a journey and think they've found this Panama paradise afterall. Only, they've come full circle and its actually their own home that they didn't recognize because the grass had grown and the place became rundown. The moral was something like "home is paradise after all".
They dwelled on the sound of the words "panama banana" a lot and I remember they spoke REALLY slowly in the dub. I watched it on a US released VHS home video in the early 1990s maybe. It was cute and had a "coloured pencil" feel to it.
Any ideas?