https://en.m.wikipedia.org/wiki/Disney_Animation:_The_Illusi...
If you check out YouTube you'll find a lot of examples.
There's even a few rubberhose plugins for after effects if you want to get that effect.
https://www.adobe.com/uk/creativecloud/animation/discover/ru...
It's hard to imagine something like The Fox Chase[1] in a different style; the lack of distinct joints and extreme flexibility make for things that wouldn't be believable in a more realistic style.
So, a little of both.
Your answer is largely correct, rubber hose refers to the limbs which are thick black lines that lack obvious joints, instead they have the rubbery(bouncy) movement you've described.
(1) https://www.adobe.com/uk/creativecloud/animation/discover/ru...