I think it should be like this. A translation check and help with the last frame would be appreciated.
Hat.Your point?So, what's the real reason for jellyfish?Scholar joke.Ah, something got her.Wha-?Did you use something that looks like or is related to one?I don't think scholar jokes are supposed to be like that.I mean, you can write jellyfish as "水月" or "海月", right?
海月 (kurage, suibo), 海 (sui - sea, beach) -> 水(sui - water) -> 水月. Resulting 水月 can mean "moon in the water".Moreover, you have one more 月 there月 (tsuki) - moon....A pun?Fun fact: 駄酒落 (dajare, usually written as 駄じゃれ) - "pun" starts with 駄 as well as 駄目 (dame) - "lame", "useless".
