The promo, which was released on Friday, May 17, opens with the rapper and country singer making a fast getaway as western outlaws, leaving town sheriff Rock and his two law enforcement sidekicks in the dust.
Lil Nas X and Billy Ray then find themselves running from a local gunman, before finding themselves transported from the 1800s to modern day, still wearing their cowboy gear and riding their horses.
The fun clip also features the pair crashing a bingo game at the town hall, where the musicians end up taking the stage, with Diplo, who recently released a new remix of the viral tune, backing them up by strumming on a washboard as the senior citizens begin line-dancing.
The footage, directed by Calmatic, also includes cameos by rappers Vince Staples and Rico Nasty, as well as "Old Town Road" beat creator YoungKio.
The long-awaited video, which emerges as "Old Town Road" enjoys a sixth week atop the U.S. singles chart, comes days after Kanye West and Kim Kardashian's daughter North West made her debut as a music video director, taking charge of her own version of the promo.
Kim, who recently welcomed her fourth child via surrogate, posted the fun project on her Instagram page on Tuesday, revealing the five year old was calling all the shots as they filmed in the hallway of their Los Angeles home.
"What we do on maternity leave.... Directed and Choreographed by North," the reality TV star captioned the clip, in which her little girl takes centre stage in a red cowboy hat, a white shirt, and cow-print pants, similar to the outfit modelled by "Toy Story 2" character Jessie, before showing off her dance moves as she sings along to the tune, and strums on her mini guitar.
The video tribute left Lil Nas X in shock, as he commented, "no wayyy i love u guys for this (sic)."