This is terrible and hilarious at the same time. It's like the Crazy Frog song performed by Vic Reeves' pub singer over a reggaeton beat: [youtube]pE8EZVpjR84[/youtube]
The video says it's by Andy's Val Gourmet but it appears that it's actually by El Chombo.
Ministry of Sound, on whose label the single is released on Monday, says that El Chombo are Rodney Clark and Andy de la Cruz:
Andy’s mumbled vocals were originally laid down as a rough skit with a view to writing "proper" lyrics later but everyone loved what he had recorded (in most cases having people rolling around in fits of laughter) so they decided to keep the original version (after all how could anyone possibly top “Ihni Binni dimi diniwiny ani taime”?)
As MoS says, the song has been around for ages, since at least the middle of 2005 if Ask MeFi is anything to go by. It's inspired numerous YouTube tributes and now it's apparently in with a shout of being the UK's Christmas number thanks to a campaign by Radio 1 DJ Scott Mills.