Does anyone know the title of this animated film?

Lately I’ve been trying to remember the title of an animated film I loved as a child. I can barely remember anything about it though and I’m hoping that there is someone out there who knows it.

The things I can remember are that it’s animated, has lots of sleepy-looking babies (possibly on clouds) and the general theme of the film is some kind of dream factory (I think!). I also remember pink flamingos and maybe an old man (or a few old men…)

As I said, I can’t remember much about it and I have been searching for a long time. All suggestions welcome.