It was actually just about pulling a bunch of different-colored ropes aside and having the contestant choose one to cut.
Out of those ropes, one was connected to a weight above the player's head. If they cut the corresponding rope, the weight would fall and hit them.
It was somewhat like defusing a bomb.
In normal variety shows, the weights would typically be benign objects such as plastic tubs or wooden boards, guaranteed not to harm the participants when they fell.
But the Carnivale was anything but a normal variety show.
The Upper Class People wished they could directly attach explosives to the other end of the ropes, but considering the collateral damage such weapons would cause to the audience, they chose the guillotine, which wouldn't injure bystanders.
This way, the worst that could happen to the surrounding audience was being splattered with a bit of blood, or perhaps being hit by a severed head that was still twitching.
