Final answer:
The series produced by Max and Dave Fleischer for Paramount's John Bray is called 'Out of the Inkwell,' featuring Koko the Clown, a character who was animated and put into action settings, and became quite popular in the early 1900s.
Step-by-step explanation:
The cartoon series you're referring to is called Out of the Inkwell. It was produced by Max Fleischer and his brother Dave Fleischer in the early 20th century, around the 1920s. The series featured a character named Koko the Clown, who was animated and then inserted into action footage. Koko the Clown became a popular character and was a significant contribution to the animation industry during that era. The Fleischer brothers were pioneers in the animation field, and their techniques, like rotoscoping, helped to develop the medium into what we know today.