The wrestling bits make me laugh the most - the song is pretty much whatever. But that kid slapping the crap out of people ... I don't know, it's just hilarious.
I feel for the poor wrestlers who had to just sit there and take it. "Yeah, the one clown said I had to let his kid slap me for five minutes or he wouldn't pay me."
And yes, the kid IS adorable. But, man, he is going to grow up to be one violent creep.
EDIT: There are lots of .gif possibilities in this thing, but if I had to pick just one, I'd want one of Ruby doing that hilarious dance. Best part of the video!