It doesn't remind me of anything. Sounds like a folk dance, either an old one or an imitation of an old one.

(Notice the corny touches. Why is it that when Money Culture decides to do something old-fashioned, they can't just DO it? They have to make money off it and ridicule it at the same time.)

I clicked on other videos of the same singer. I don't have children, and I'm out of touch with their culture. So it amused me to watch this video

http://www.youtube.com/watch?v=LKoLKwaLEVw&feature=related

and to see the young children at what looked like a rock concert but is clearly more, um, more - I guess the best word I can think of is more innocent than that.

If you are a people watcher, you will enjoy it.