After doing a bit of research(and using Google Translate xD), I've found that the clip is from an Australian series called "Wicked Science." It's about these two kids, one guy, one girl, that get made into geniuses. This clip involves this one guy that's blackmailed into "working" for the girl and as payback for potentially leaving her, she makes him grow breasts.
Wiki:
http://en.wikipedia.org/wiki/Wicked_Science