A cobra fights a mongoose in a gambling pit in Madagascar while Bond and his assistant watch one of the gamblers, a mercenary bomb maker. The bad guy realizes he's being watched so he jumps into the arena to get away from them, almost stepping on the cobra before he runs out of the arena beginning the usual long chase scene that starts a Bond movie.

I don't know if the commotion spoiled the contest or if they continued the fight after the big chase scene, but we never find out the outcome. My money was on the mongoose, because they usually win due to their agility and speed and the fact that they can survive a bite by a cobra and continue to fight.

Both the snake and mongoose look like they're made of CGI. There's a page on reptilerentals.com that shows a picture of someone filming a Banded Cobra for the movie. That cobra is not fighting a mongoose, so maybe the CGI snake we see in the movie was based on film of the rented cobra, and maybe the mongoose was also animated based on a similar film of a mongoose.