The rat is just rambling about.
At one point he says he feels alone, he brings in his friend to the camera, then eats him, then he complains again he feels lonely; the puppeteer tells him "but of course, you ate your friend" then he explains he's just a puppet and has no mouth, and that his friend is still down there; friend says he's dead, doesn't want to come, then finally comes, then gets eaten again... etc.
I have a hard time understanding the puppeteer's speech when she talks. Most likely not French from France, probably Canadian.