Revealing mistake: When Kramer at the start of the episode puts the hose on the kitchen tap, he jerks the hose as it's not long enough to reach The Fire. If you look at the sink when Kramer does this, it comes easily out of its position on the counter top.
Factual error: When Peterman is making a toast at his party, he quotes what he says is something said by the Papa New Guineans, and he proceeds to pronounce a sentence filled with clicks (lingual-ingressive consonants). However, this is impossible, as clicks are only used in southern African languages and three east African languages. (00:03:10)
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