For decades, I thought it was Doing the French Mistake. My buddy SWEARS it’s Mystique! Searches show a pretty close race between the two. Help a girl out!
French Mistake according to this youtube clip title.
Is it coincidence that you are asking the question today, after Buddy Bizarre (Dom Deluise) died today?
“This is closed set”
“Please not in the face”
Your boyfriend is wrong. Were you new here I’d tell you have the SDMB’s authorization to, because it’s a Mel Brooks movie, question his masculinity, but you know that by now. 
Urban dictionary hints at it predating the movie. Don’t know if that’s true.
Am I the only one who thinks that song is a blatant ripoff of the Varsity Drag?
The movie’s credits list it as “The French Mistake”.
You should walk him through the song, introducing it with, “One, and two, and watch me faggots!”
(N.B. I’m very supportive of gay rights, but that line just kills me for some reason. I also feel kind of OK about it because Mel is such an equal opportunity offender. I also laugh like hell at . . . but we don’t want the Irish!, which is my background.)
Like Kizarvexius said, IMDB lists it as “The French Mistake” with music and lyrics by Mel Brooks.
You jest? Please sir, you jest?
Mistake. It’s a play on mystique, that’s the joke. 
There are probably about a million generic songs that sound a lot like the Varsity Drag. It’s not exactly A Day in the Life.
You know what sounds awful? An unrehearsed high school band, playing the Varsity Drag at half speed. I’m glad I didn’t do that show.
I always assumed that the “mistake” they were referring to was being gay, since all the dancers were “fagots” and the dance moves they were advocating were extremely effeminate.
Not that there’s anything wrong with that, of course…TRM