Factual error: George asks for a nickel from Jerry for his candy bar. He then proceeds to put only 3 coins into the machine for a $0.50 candy bar. No 2 coins would require a nickel to make 50 cents.
Continuity mistake: When George is at the window making a complaint, a cut reveals several inconsistencies. The man at the window has his arms in a higher position in the second shot (plus his facial expression is changed), the woman no longer has her hand up on the wall, and George's left hand is suddenly resting on the table. (00:15:55)
Revealing mistake: When Jerry is slamming the payphone in frustration with Elaine, he slams it on The Switch-hook multiple times. Pressing down The Switch-hook like that would end the call. Clearly Jerry is not really connected to Elaine on the phone. (00:14:05)
Answer: Composer Jonathan Wolff used a synthesizer, although in seasons 7-9, a real bass is used in addition. Wolff also recorded himself making hundreds of mouth noises, pops, and slaps to add to the synthesized bass licks so that each episode has a different theme. The only real "back-story" is Jerry Seinfeld was having trouble coming up with a theme song and talked to a friend who happened to know Wolff. They wanted to avoid that cheesy late 80's sit-com theme song and Wolff came up with what we enjoy now. Jonathan Wolff has also talked about this further in interviews, recently Reed Dunela interviewed him, so for a fuller account of his story; check out "The Wolff of 116th street".
Bishop73