1. Look for the part when Billy is moving from first grade to high school.

2. Sometimes it cuts to a scene of a guy punching the eyes out of a Billy face on a Popsicle stick with his pencil, because the Billy head/Popsicle stick is supposed to symbolize Billy going through the grades.

3. As it cuts back and forth, the eye holes appear to change to punched out to not punched out.