This bizarre music video is for "Prisencolinensinainciusol", a song written in 1972 by Adriano Celentano. The lyrics are neither in Italian nor English, but it's a gibberish that's supposed to resemble what American English sounds like to someone who doesn't really speak it. Sort of like if you were to just say "ching chang chong ni hao ching chong" or "blahlblahscetti proscutti i gorbongi yeti bingbango" if you were imitating Chinese and Italian respectively. Which I do all the time.