Very Cheery!
Works great for carnival music, I was thinking something along the lines of a fair actually.
It gives off a good feel, but I think you should have more of a melody. It's there, but maybe since it's so short, you can't really feel it that much.
@ 0:07 you introduce another track to it. I think that this track need editing. Sometimes it plays out well and blends nicely with the melody, but other times I feel like it's being deconstructive and making it sound like noise.
Other than that, it's all good :)