The video is quite old, originally uploaded last 2009, but I can't help but burst into laughter when I saw this. It features Kamen Rider Blade dancing into the “Yaranaika” parody song.
Kamen Rider Faiz also made a spacial participation on the last part, dancing with Blade in the tune of “Caramelldansen,” from a series of animated dance videos.
I personally know a little to none on these internet memes but I find the video quite funny. To know more, check out KnowYourMeme.com's entries about Yaranaika and Caramelldansen.