We are not animals, so we don't know what they are talking about. But if we had to guess, they might be saying "hello, where are you going? Let's get together"
But they have to jump out of the car to get together. After that, they will run!
One says "my name is phoebe, what's your name?"
The other dog says "woof. My name is Watson, let's explore this place"
They are on the road near the countryside. The road is 41st and Arbutus. Watson has a light over his head. The light is an idea. The idea is 'make a friend'.
Then they get off the road, they go through the woods which are close by to explore. They find other animals in the woods, but not dogs.
Back in the cars, there is one man and one woman. They are probably related, probably husband and wife.
The dogs stayed out in the woods for a little while because the people in the cars didn't realize they were gone. Eventually they all got back together and they were able to start on their journey home, hoping they will meet again sometime.