Butterfly Valley was the very first show created by HeyKids Studio. The show is about a pair of twins named Rose and Petunia, who found themselves in a land called "Butterfly Valley". No single episode has been found on Youtube or other video websites. But there can be some photo shots found.
A photo shot of Princess Butterfly.
Another photo shot.
Update: This is actually an episode from the late 1970s anime series Manga Sekai Mukashi Banashi.
Anime The Ant and the Grasshopper