Until then, we've got to have Elly be filled with rage because he has sexual urges.
Panel 1: Mike tells Elly that he and Phil had a neat time seein' Santa.
Panel 2: When they were comin' home, he asked him what he wanted from the Man in Red.
Panel 3: He then asks Elly what a blonde nubile wrapped in cellophane is.
Panel 4: This causes Elly to yell "PHILLIP!!!!!" because she's angry that Phil wants to have sex when he should be as frigid as she is. I'd yell at him for a different reason: he should want a nubile blonde wrapped in cellophane. Better you should expose a kid to kinky fantasies that bad grammar. Better still to not share your bizarre fantasies with a small child.
Summary: Elly believes that because Phil has a "healthy", active imagination, he's unsuitable for Connie. Wrong. He's unsuitable because he's the idiot who'd leave a Playboy lying around where anyone of any age can see it.