Or in Cyrillic, Путин он зе Ритц.
This is just weird (as well as illustrative of what's possible with motion tracking in special effects software). It's from back in 2008, which explains why Vladimir's dancing partner is then-President George W Bush.
Here's a performance of the same song by a flash mob in Moscow celebrating a wedding on February 12, 2012. (I embedded this in an earlier post where you can find a little additional detail if you're interested.)