David Beckham also has a starring role as director, while Victoria Pendleton sports a tiger suit.
The video tribute was produced by adidas, Team GB’s official sponsor, as a way to “capture the mood of the nation,” said adidas UK Marketing Director Nick Craggs.
All the athletes took part for free after their competitions were complete. Some of the younger ones didn’t know the original song – or only knew of it through its use in the film Shaun of the Dead.
Peter Reed, who won gold for Britain in the men’s fours at Eton Dorney, took part in the video.
“The singing – I feel so sorry for the crew, my voice isn’t my strength, but it was a lot of fun,” he said.
“I know the song really well, I can play it on a piano. So I’m glad we chose that one. I think when it gets put together it’s going to be an absolute riot.”