Thanks to a collector for exhuming the rarest of all SCTV episodes: "The Cisco Kid." This wasn't actually made for SCTV, but was incorporated into the show in the third season when they were strapped for material and cast members (that was the year of Robin Duke and Tony Rosato, when most of the original cast was off trying to make it in Los Angeles). It was a long, elaborate exercise in re-dubbing a low-budget movie, a la What's Up Tiger Lily; three Second City members took a "Cisco Kid" Western and dubbed in new voices. It comes off a lot like MST3K.
The segment was created and voiced by Martin Short (Pancho) Steven Kampmann (Bart, Dwayne Muncey, Patty) and Peter Torokvei (Cisco). It's said that the three used this piece as their calling card when they, too, went to L.A. to get jobs; Kampmann and Torokvei went to work on "WKRP" (where they recycled a line from this short and gave it to Herb: "I make money, you make money and no one knows the difference") and Short got the lead on James L. Brooks' The Associates, though he came back to Canada to work on SCTV full-time after that show flopped.
The segment may be too long for the joke, but it's still worth posting here if only because it's never been included in any SCTV syndication package.