The song is a parody of "Over the Rainbow," retitled "Somewhere After the Late Show," a reference to his lead-in, "The Late Show With Stephen Colbert."
Shot in black and white like the opening scenes of "The Wizard of Oz," the song laments the fact that "Somewhere after 'The Late Show,' post-Colbert, there's a talk show of which a lot of you aren't aware," hosted by "one more affable white guy gabbing on your TV."
The segment asks the question, "Drunks stay after 'The Late Show,' why then, oh why can't you?," followed by a return to glorious CBS-TV color.
Watch below: