Dumbo is purely fictional. It was made up to capture the hearts of audiences with its charming characters and touching plot, not to represent any real-life situation.
The use of VHS in 'Pulp Fiction' adds a certain nostalgic and gritty feel. VHS was the common format at the time, and it gives the movie a sense of being a product of its era. It also reflects the kind of low - budget, underground aesthetic that the movie often presents.
The 'VHS 94 real story' might be related to a collection of short films or recordings on a VHS tape from 1994. It could be something like a compilation of amateur horror or mystery recordings. For example, it could be a bunch of local filmmakers' attempts at creating spooky content, which was then collected on this VHS. Without more context, it's hard to be more precise.