I'm so glad this footage has turned up--I remembered seeing Creature Features in the late '70s and early '80s, but every historical reference I could find on the Interwebs told me that it ended in May 1976, so I assumed my memory was just wrong...until now! I also remember the simple opening with the blue slide. I must have been up late during summer vacation to see it, and I don't know which movie I saw (Kronos, maybe, since I remember seeing that on CF, though it only aired once in the "classic" era...when I was 9), but I remember being shocked (and thrilled!) to see it still on the air. I still have dreams about the show, too--usually that somebody has at least briefly revived it and I've stumbled across it on cable. (You listening Antenna TV? Cozi? This?)
These puppets were later used on a show called I.N.K. -- Interesting News for Kids. I thought it was on WMAQ, but maybe I'm wrong on that. The mic was named Mike Rafone, (get it?), and the show also featured a character who was a spider that looked like a black glove with a huge black pin cushion sewn onto the top of it. This is the ONLY reference I've seen to the show in years.