Cheech And Chong also lip sync to the recording (with Chong behind the drum kit) in their first movie Up in Smoke (1978). This piece is considered to be one of the greatest novelty audio pieces of all time, and has been featured repeatedly on the Doctor Demento radio program. According to Tommy Chong's autobiography, the famous guitar riff is played by Gaye DeLorme, who also composed the music for the song. Additionally, Chong states that drums on the song are played by famed international percussionist Airto Moreira.
The song was also released as a single in 1974, and reached #9 on the Billboard charts and #4 in Canada. In Chicago, it topped the charts at the powerful and influential Top 40 radio station WLS (AM), holding the #1 position for one week in September 1974, in the middle of an eleven week run on the station's top 40 airplay charts. The B-side, "Turn That Thing Down" (a non-LP track) features the remainder of the musical track, from the point of Marin's monologue about his wealth, without the actual dialogue, complete to its conclusion. It is possible to assemble the full-length version of the song by editing the two sections together. The single version appears on Cheech & Chong's Greatest Hit, fading out before reaching the skit as it appears on the Wedding Album.
Alternative rockers Rollins Band and Soundgarden both covered the song, and the hip hop group 2 Live Crew used a sample from the song on their 1989 album As Nasty As They Wanna Be. The Canadian power trio Rush have used the song's signature riff live, to end "The Big Money", (whose album version ends with a fade) on the live album A Show of Hands. Toronto's instro-sludge kings Electric Magma have also used the song's main riff in the song titled "The Chong Song" which appears on the 2007 release Coconut Bangers Ball.
Gov't Mule covered the song at the Vic Theatre in Chicago, Illinois on April 15, 2000 with Brodie Hutchinson, soundman, performing the spoken word portion and this is available as a Classic Muletracks.
The Kottonmouth Kings also sampled this classic on the song "Loadies" from their album Cloud Nine.