here we have a handicap match between the King and Andy and his deadly wrestler, the Colossus of Death. I would think that they had the Colossus do a couple squash matches on TV to show how destructive he was, and I would doubt he ever appeared after this match. mostly it looks like it was to set up Andy teaming with Jimmy to torment the King.
Jerry sure is a master of psychology and selling though. he knew exactly when to start his comeback and makes the Colossus look like pretty scary. I do wish I had been able to see more of Memphis back in the day. it would have been so much fun.