Pretty Run-of-the-mill
As I watched this, I honestly felt no compulsion to laugh at all. Now, I know that I can't really bag on you for that because everyone has different styles of humor and what I think is funny certainly isn't going to be the same as what you think is funny.
What I can talk about, though, is the way that this movie was presented. And what I mean by that is that this movie was presented in pretty much the same style as many other movies you have done. I heard a lot of yelling and inane chatter all throughout and I was surprised by the amount of swearing contained within this supposed "third grade play." Of course, you are free to take liberties, but I felt that it was odd for you to specify that it was 3rd grade and then make all of the kids either really shy or abusive pottymouths.