This was made. This actually happened. From the YouTube description:
Kathie Lee Gifford is crazy – so crazy that she attempted a Pee Wee’s Playhouse Xmas special (called ‘Kathie Lee’s Rock ‘n Tots Cafe: A Christmas Giff’) and decided to do a “hip hop” version of “Twas the Night Before Christmas” – awesomeness ensues
I never watch “The Today Show,” so I always assumed that Kristen Wiig’s impression of Kathie Lee on “Saturday Night Live” was an over-the-top caricature. Nope, it’s pretty much dead-on. Restrained, even.
It’s kind of amazing that people who suck this hard are still handed work even after sucking for so long. Kathie Lee is the Matt Millen of entertainers.