There are a few options for festoon removal, depending on your particular anatomy. Options include traditional blepharoplasty, direct excision and laser resurfacing. laser resurfacing is the type of procedure that I believe you are referring to. I commonly perform this for in conjunction with lower eyelid surgery for skin tightening. A full exam would be required to determine what type of procedure is best. Hope this helps.
Everything sounds more dramatic on "The Doctor." Show biz that is what they do. The procedure is a little bit of lower eyelid fat removal and a lot of skin resurfacing. The same type of result can be accomplished by various types of lasers and chemical peel agents. The most important issue is to have surgery that is custom tailored to your particular issues.