[link to original on tumblr]
---&---
There's a running gag where the Monkees mis-name a character, saying "Shylock" instead of "Sholto." I'm not sure, but I think this is a reference to the character Shylock in Shakespeare's The Merchant of Venice. I haven't read it for a couple years, but from what I remember Shylock - like Sholto - is something of a scheming character. He's definitely the antagonist in the play.
The other thing I noticed is that in the background of a scene, Peter plays a bit of Bach on the banjo. It's commonly referred to as "Jesu, Joy of Man's Desiring," but originally, the melody is in the 7th and 10th movements of Herz und Mund und Tat und Leben, BWV 147.