OK, I found the transcript. It's full of puns. Several characters are mounting an attack, and are taking their positions. The transcript says "Nick Knack, take point. [go into the front position] Paddy Whack, cover the rear. [take a rear position]" "Knick knack, paddy whack" are the first words of a nursery rhyme. I don't believe it has a deeper meaning.

Can you give some more words with your quote? "Paddy whack" comes from a nursery rhyme for counting, called "This Old Man." It refers to a strong ligament in a sheep's neck that supports the head, called "pax wax" which is sometimes used as a dog's treat. I'm sure it's irrelevant to your question, but the ligament was also used historically in composite crossbows. I mention it only because I remember reading it long ago, and am showing off.