Lose the poo, i hate to be this blunt, but that is just so juvenille. I totally agree that it might get a chuckle for a minute, and the 8 year old neighborhood kids might laugh a little longer, but if you're gonna have this in your house for a long time, after your humor matures, you'll wish you wouldn't have put the poo on it.
As for the rest, i'd lose the hole and just have the monkey standing there. I agree with the above poster, it doesn't make any sense to have the monkey popping out of a hole in the middle of space.
If you insist on keeping the poo (don't know why) you need to work on the splatters a little bit. Especially the one coming off the "Y' in "Monkey". It's really off. Those splatters just look too fake.
I think banana peels and throwing bananas would be the way to go. What about maybe two smaller kid monkeys up to some kind of schenanegins....that would be funny. Maybe fighting or have one of the baby monkeys cracking the other one on the head with a coconut...now that'd be funny!