Old Friends (1956)

The losers the wooden football players overheard the bear's talk about the upcoming water polo championship and decided to win the main prize (the car). To participate in the match, the wooden players took paint and repainted themselves as a water polo players. They called their team "Black swans" and nobody recognized them. But since they trained little and behaved rudely during the match in the pool, they lost again

Unfortunately the movie Old Friends is not yet available on HBO Max.