Decent, not great. Okay, not perfect.
Well, it's a funny song and that's what most people are going to be voting on, rather than the actual quality of the animation.
Your lip synching was good, but the entire animation as a whole felt lacking. You need more dynamic shots of the characters while they are performing.
Work on the placement of your sprite as well, because there were several times when they'd move around when transitioning between poses, and they weren't always in the right spot for the stills (Phoenix too far from the left side and it left an obvious gap, for instance, when looking forward with his right and on his hip).
It was just okay for me.