FAQ

Yes, it's included in Looney Tunes Golden Collection, Volume One (2003) (V) Disc 1.

The following scenes have been cut from some TV prints:

On ABC, several scenes were deleted: 1) Part of Bugs' carnival-barking; 2) Sam saying, "Ya noticed I didn't say 'Richard'?" when knocking on the door on the platform (the first two deletions applied only to "The Bugs Bunny Show"); 3) Sam nearly throttling Bugs when forcing him to dive the first time; 4) Sam shooting bullets at Bugs's feet to make him dive again; and 5) Bugs dressed as an Indian to fool Sam.

Nickelodeon airings, too, deleted Bugs as an Indian.

Source: The Censored Cartoons Page

See: this FAQ page

Bugs Bunny Rides Again (1948) (1948)

Bugs dares Sam to step over a series of lines that finally lead him off a cliff.

High Diving Hare (1949) (1949)

Bugs dares Sam to step over the line that leads him off a high diving board.

Looney Tunes.

Butterfingers and Clumsy.

Fearless Freep.

Yosemite Sam screams, "Open the door! Open the door!" Then he turns to the audience and says, "You'll notice I didn't say 'Richard.'" This is a reference to the song "Open the Door, Richard" written by Dusty Fletcher and first performed by Louis Jourdan.

Bugs Bunny: "You see, I never studied law."

Friz Freleng: "High Diving Hare (1949). There was a picture that was a one-gag picture. That's all there was to the picture, but if you could get enough material to build ... It was a dangerous thing to do. Dangerous picture to make."

Source: The audio commentary on Looney Tunes Golden Collection Volume One (2003) (V) Disc 1