Papyrus was there, but has uncomfortably dual memories of the whole event. That makes it a little trickier to think back and try to retrace what happened.

"Ah, well... The last I saw, the Huntsman had it. I don't think he came along with us."

He's also choosing not to think too hard about what the Ringmaster did with Ignatius after his defeat, or the very real possibility that the same thing's been done to her now.