The track is filled with shortcuts, but the most important is the tree shortcut, which takes a bit of practice to be able to do consistently. You can also do an itemless shortcut right after that by doing a charge jump and bouncing off the cow.
Arriving from Cheap Cheap Falls or Peach Stadium
The tree shortcut can still be taken when going backwards, and you don’t even need to trick off the tree. Just a mushroom and a right charge jump will do.