The Big Top is the last Memory Vault in Psychonauts, found in the final level, the Meat Circus.
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As a child, Morceau Oleander was fascinated with bunny rabbits...
...and had a peaceful meadow full of rabbit hutches.
One particular rabbit seemed to stand out among the others.
Morrie and the rabbit took a liking to each other, and a close connection was formed between the two.
Unfortunately, there was one person who didn't see eye-to-eye with Morrie...
...his father, Mr. Oleander, who ran a butcher shop. As far as he was concerned, bunnies were good for nothing -- except food.
Mr. Oleander snatched up the rabbit from his son. Morrie pleaded his father to stop, but to no avail.
And then, Mr. Oleander slaughtered the poor rabbit right in front of his son to teach him a lesson. This was a traumatizing moment for Morrie.