If you're looking for anime similar to Mobile Suit SD Gundam Mk IV, you might like these titles.
Rock Lee is a youth from the Hidden Leaf Village who strives to become a worthwhile ninja - despite the fact that he is unable to use ninjutsu! Alongside fellow teammates Neji and Tenten, Lee must overcome this obstacle while completing a variety of absurd training routines, protecting the village from the always-scheming Orochimaru, and somehow finding time to win over the heart of his beloved Sakura, who rejects his every advance. However, this matters not to the eternally cheerful and energetic boy, who seems to be undeterred by failure of any sort. Whether competing at the annual sports meet, acting as bodyguard for the Hokage, or battling against his friend and rival Naruto, Lee always gives 110% effort, determined to live out his springtime of youth to the fullest!
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I'm not even sure you have to have really seen the parent series to these chibi styled comedy skits. Maybe just a working knowledge of what type of shows they are. I mean sure, you will get more out of them making fun of things that are directly from the show, Naruto's powers of looking like a sexy woman for instance, but you might find either of these entertaining for short attention span theater.
Everything's more fun when you're shrunk down to chibi size! First, the crew of the Star Leaf give a behind the scenes look at the making of Gall Force: Eternal Story, outtakes and all! Next, the biggest and last super race of the century is taking place - and plenty of top candidates are competing in an attempt to win the Genom Trophy, worth ten billion dollars! Members of the Knight Riders, the Star Leaf and more are out for victory by any means possible; who will succeed?
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Parody of anime titles.
I figure these are perfect seeing that they are both around a crazy race what could be more perfect?
Makoto is the driver of a rag-tag Formula X racing team competing in the bottom rung D-Class, with aspirations of one day making it to A-Class. When a mysterious benefactor sees potential in them, he offers his engineering services and shiny new engine to help them compete in the Open Cup. This yearly event is open to all classes and the winner automatically earns A-Class standing.
An anime short adaptation of the 4-coma manga of the same name, putting the Gundam characters in mundane, yet comical, situations.