http://youtu.be/v6_hoCTAigA?t=6m29s
The series is called pimmala, I'm not sure what the series is about for sure but from what I can piece together, it's about some magical being tormenting a male chauvinist by turning him into a female form and assorted other craziness.
The scene linked, the magical being changed him back to normal, except he still has breasts. When he complains, she makes him so large he falls back, then changes into a woman and they deflate a moment later.