Menagenet writes about song parodies. The fact that a song is a parody is what makes it permissible to use on recordings such as Schlock Rock. What is not acceptable is the lifting of rock tunes or movie scores and placing them wholesale into arrangements or melodies of Jewish recording with no parodic intent. At least that is how it was explained to me. Lenny Solomon actually made extensive inquiries into what his legal obligations were and this is what was told to him AFAIK.I think that part of the issue is determining what constitutes a parody. Taking a melody and setting pesukim or lyrics to it doesn't implicitly make it one. I believe the law is unsettled to some extent with regard to whether the parody lyrics need to be spoofing the original version.
The Pischu Li that's been going around on the web I believe is from one of those Theodore Bikel/Hankus Netsky concerts on PBS featuring the Klezmer ensemble from NEC and a local gospel choir in Boston.
Dov Levine writes:
The clip is from a Theodore Bikel Passover special that aired on PBS some years ago. The audio CD is here:A Simple Jew forwards a link: Anshel's Wife: I can't get no satisfaction
My favorite segment was the Matzoh Ball demonstration by Chasia Segal, clip among these: