This is the plot according to the ExplodingTNT Wiki.
The video starts with Notch running around a field, until he spots the then recently introduced Pink Sheep standing nearby.
As Notch approaches Pink Sheep, it tells him that he is looking cute, claiming that it's name is "SwagHolic24" and that it is madly in love with him. It then begins to complement Notch by asking if he is a parking ticket, as he has "fine written all over him". It then says that Notch has a nice butt, much to Notch's personal shock. Continuing to regard Notch, it says that it thinks Notch has stunning hips and claims that it is the first sign of love between two males. It then admits to Notch that it is simply a lonely sheep wishing to spend time with him and ExplodingTNT.
Despite this, it tells Notch that they can become a cute couple by watching romantic movies together, and killing ExplodingTNT not long thereafter. To provide reasoning, it tells Notch that this act will forever make it and Notch a cute couple forever, claiming that it will also take Notch to fancy restaurants to discuss how many babies they will make. Despite this, it tells Notch that it had recently calculated that the two will have exactly 16 and a 1/2 babies in the future, and that Notch will become a mother. It then says that those babies will be highly successful in their lives and they will support them fully in order for them to obtain their full potential. Finally, it tells Notch that rather than getting married, the two will fuse together and become one individual, telling Notch to not worry about it. Afterwards, it asks Notch if he is willing to join Notch in it's aforementioned relationship, prompting Notch to kill himself.
It is then that Bill Gates walks over, saying that he heard Minecraft was up for sale. The Pink Sheep then tells Bill Gates it's former complement and receives a huge sum of money from Gates as a result.
The full video was uploaded on 11/10/15 by a fake ExplodingTNT. Here is the link: https://www.youtube.com/watch?v=3ctWgwkdQQw (WARNING! It repeats a little.)