It is “Quizas, Quizas, Quizas” being played on the gramophone.
(written by Osvaldo Farres)
by WilHelm e la sua orchestra tipica
(More popularly known as “Perhaps, Perhaps, Perhaps” , it’s a song that’s been covered by many artists over the course of many years.
My favored rendition, from years ago, by “Cake”, is in the following link.