Please help!

Have a memory of watching this movie as a kid, so early 90’s.

2 kids playing chop sticks on the piano and end up getting sucked into the piano into a nursery rhyme world.

They meet little bow peep, the weird spider, and other characters. But the whole time they are trying to help this lady who looks all ragged either remember who she is or find her home… and at the end she turns into a beautiful fairy and sends the kids back home. So weird – but I watched it a million times as a kid and cannot find it anywhere!

It it was not animated – just people dressed up in terrible costumes. In English. Lots of singing. Trrrible set design like the whole thing was in a studio.

Any guesses???