Parody, yes, but I'm pretty sure he actually hired P&P, though. Maybe that was a rumor?
After doing some searches, it looks like it was an imitation, not actually P&P. It would have been cooler if he'd actually hired them, though. I guess that's why I assumed he had.
anyway, I found a bunch of other parodies while I was searching, it was a thing on SA at one point, apparently: http://slizg.eu/viewtopic.php?t=16271 I'm rather fond of the Dolly Parton one.
One thing that irks me about the copy on the U of Houston site:
Stylishly dressed rappers, diamond encrusted jewelry, piles of cash, and champagne bottles epitomized the bling aesthetic associated with many 1990s hip hop artists.
What they wrote isn't wrong, but it could be inferred that the "bling aesthetic" was synonymous with rap in the 90s, when in fact it didn't appear until the late 90s and was hugely divisive within the rap scene. I recall moving to Atlanta and conversing with Talib at my new local record shop for the first time. I wanted to be diplomatic about how I felt since I didn't know him and didn't want to insult his bread-and-butter sales, so I said "it looks like we're in a new era now." To which he replied "Yeah. The GARBAGE era." We were simpatico ever since.