James and his band played a very familiar song.However,they made up different words for the song that were intended to be funny.James's version of the popular song with different words is known as

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A parody is a humorous or satirical imitation of a serious piece of literature or writing or a popular song, usually with altered lyrics to make the original work seem ridiculous. In this case, James and his band made up different funny words for a popular song, thus creating a parody. "Knock off" and "mockarama" are not commonly used terms for this situation, and "link" does not apply at all.

James and His Band Played a Very Familiar Song