The Airport - S4-E12
Factual error: In the episode where Jerry is upgraded to first class while Elaine struggles in coach, the scene changes to show a plane flying with the colors of Southwest Airlines, and you can make out the name "Southwest" written on the tail if you pause as it's landing. Anyone who has flown them knows that there is no first class on Southwest.
The Airport - S4-E12
Deliberate mistake: In this episode Elaine angers the bag man and he puts her bag on a plane to Honolulu. When Jerry and Elaine arrive in New York and are waiting for their bags, it cuts to the "Hawaii" airport and shows Elaine's bag coming out to the baggage claim belt. This was a deliberate mistake as there is no way Elaine's bag could have gotten to Hawaii at the same time Jerry and Elaine are waiting for their bags in New York, since they only left from Missouri.
Answer: Composer Jonathan Wolff used a synthesizer, although in seasons 7-9, a real bass is used in addition. Wolff also recorded himself making hundreds of mouth noises, pops, and slaps to add to the synthesized bass licks so that each episode has a different theme. The only real "back-story" is Jerry Seinfeld was having trouble coming up with a theme song and talked to a friend who happened to know Wolff. They wanted to avoid that cheesy late 80's sit-com theme song and Wolff came up with what we enjoy now. Jonathan Wolff has also talked about this further in interviews, recently Reed Dunela interviewed him, so for a fuller account of his story; check out "The Wolff of 116th street".
Bishop73