This popped up as a recommended track on Spotify and, well, I gotta hand it to them. It's actually really good.
The original version of this song is by a UK group called Madness. It dates all the way back to 1982, and there's a pretty nostalgic music video to go along with it.
Toro Y Moi's version is definitely a good bit more modern. But I'd expect nothing less from a funky chillwave master. It's definitely not better, it's different. And that's what I want from a cover song :)