par-o-dy

1 : a literary or musical work in which the style of an author or work is closely imitated for comic effect or in ridicule 2 : a feeble or ridiculous imitation

"Weird Al" Yankovic has made his career on parodies. He stays on top of the music industry by imitating both current hits and timeless classics. His parodies are all done with permission (at least through the record companies), and are almost always remakes of a single song.