Chavo is a homeless orphan child who lives from the "charity" of the inhabitants of the neighborhood where he hangs out. The other characters seem to amuse themselves by mocking him, hitting him, offering him food but then denying it, and generally torturing him.
Critics argue that its director, Roberto Gomez Bolaños, aka Chespirito, has earned fame and fortune by taking advantage of the worst kinds of attrocities, such as child abuse, violence, homelesness, hunger, etc, and has presented them in a "funny" way.
The show offers repetitive gags, which are followed by laughter cues, perhaps as an acknowledgement that the audience would otherwise not understand the purportedly funny situations.
Kiko: cooompra!!! (go buy some!!! as he takes it away)
Chavo: pipipipipipippi!!!! (Chavo's signature cry, a common occurence throughout each episode)