This short film is about what it says on the title: some guys playing polo, but instead of ponies, they're mounted on bicycles. It's quite obviously shot on different occasions with different cameras, since there's a color sequence in the middle, but black and white photography for most of its length.
It requires something more, and would seem to be a natural for some short subject of the era, perhaps with Pete Smith offering a sarcastic commentary. There isn't any commentary, alas, but there is a very nice march, played on a piano with enough of a rag to it to be fun.
Does anyone else think that the dark-haired player looks like Tom Cruise?