Sketch, are you familiar with the original song? I think that's the part that made it so very funny. And the accents. And the very lame lyrics. And the choreo*cough*graphy.
And I didn't laugh at the wig lady video either. The only part I chuckled at was when the camera lady said "she don't worry about that." That was funny to me. But yeah, a wig falling off in that manner wouldn't make me laugh. Now if it was a young person cutting up and their wig fell off, I'd probably laugh.