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Is Apple Prepared to Sue Sesame Street?

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Let's recap.

It's gone after startups, arcade machine gadgets, laptop covers and bags, an Australian supermarket chain, a Vancouver college, and even the Big Apple itself. Not to mention many large corporations.

Who's to say it won't go to court over the Children's Television Workshop?

Ever litigious, Apple is no stranger to trademark disputes and filed injunctions. Should anyone set foot within a wide circle of appropriated words, phrases, or the letter I, you better count your toes. Cupertino's lawyers have several rows of teeth.

Which is why PBS and its multi-generational favorite Sesame Street might be in hot water for such an infraction against Jobs and Company.

The world-famous puppetville have spoofed Apple products and its recently trademarked phrase "There's an app for that." In fact, the entire segment is centered around the line. Take a look:

Now, virtually any company would be charmed by the tribute. The fancy pogo stick and what looks to be a bearded Guy Smiley are pretty adorable and, given the legacy of the PBS program, who in their right mind would dare target the series with a court order?

Well, if Steve Jobs is willing to go after a college in another country just for using a logo based on the same fruit, is it really out of the realm of possibility?

It's unlikely Apple would have a case, however. Based on the segment, it appears to fall under parody and fair use. But if the company's gearing up a January event for a new mobile transport, better count your blessings, Sesame Street.

If it helps, I know the perfect puppet to do it.
POSITION:  No positions in stocks mentioned.