Ummmm I think you guys are missing the point here... by a lot.
I'm guessing Jason Adams probably wanted to make an edit for Elephant so they went to a curb to do a bunch of slappy variations for fun. He happend to be drinking a coke and said "Remember that song? Lets use it!"
This DOESN'T mean its COKE ADVERTISEMENT, no where in there did it say "drink our fantastic and delicious soda!". I don't think Jason Adams or Elephant skateboards are enough "out there" do be doing advertising for Coke...