This song finds Jack Black and Kyle Gass of Tenacious D hitchhiking down the road when Satan appears and tells them to play the best song in the world, or he will eat their souls. Forgetting what the greatest song in the world is, they play something else as a tribute, and it's decided that this song is now the best song in the world.
According to Jack Black, he played "One" by Metallica to Gass and called it "The best song in the world." They wanted to make something close to it, but instead decided to make a tribute to it. The "Stairway To Heaven" riff at the end probably signifies the general view of that song as the best in the world.
The devil in this song's video is Foo Fighters lead singer and Nirvana drummer Dave Grohl. He played on the album.
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