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”The Land of Pleasant Dreams Vol. 5” (Hi-Tops Video, Anthony Paul Productions, 1986. Running time: 30 minutes. $12.95)

Traditional puppetry sets this video apart from the usual animation of most children`s offerings. Yes, children will spot the strings but young ones will soon be caught up in the video`s gentle messages and simple, catchy tunes.

Each of the tape`s two episodes unfolds in an imaginative landscape of fluffy pillows, soft blankets and mattress-ticking patterns. A kindly, gray-haired puppet-the quintessential grandma-introduces each of the segments.

The first is ”The Boy Who Wanted the Moon,” the story of a rather obnoxious (and demanding) little boy named Billy, who wants ”what I want when I want it.” By suffering the consequences of his unreasonable demands, Billy learns that ” `gimmes` don`t get” and to be thankful for what he has.

In ”The Bear That Was Chicken,” the message is courage. Threads is a little bear who is afraid of just about everything, especially five mysterious eggs that have appeared in his cave. With some coaxing and inspiration from a young girl named Mary, Threads learns that letting your imagination run wild makes things scarier than they really are.