I‘ve copied this from: http://www.timewarptv.com. I’d suggest heading over to it so you can check out some of the other Star Wars stuff they’ve got.
The Donny & Marie Star Wars skit begins with footage of two Imperial star destroyers and the Millenium Falcon (actual film footage), spliced with cheap matte painting of planets (very non-Star Wars like). The scene fades and an opening crawl (as in the movies) begins;
Tony The Tiger sound-alike - “A LONG TIME AGO IN A GALAXY FAR, FAR AWAY, THERE WAS AN EVIL FORCE AT WORK TO DESTROY THE VALUES BY WHICH DECENT PEOPLE LIVED. VALUES LIKE PATRIOTISM, CLEANLINESS, THRIFT AND GOOD DENTAL HYGIENE. DID THE EVIL FORCE WIN THE BATTLE? THAT’S FOR US TO KNOW AND YOU TO FIND OUT.”
Luke and Leia, apparently running from something, enter stage-left.
Luke(singing) “Princess Leia our goose is cooked unless we lift off of this star.”
Leia (singing) “Luke I know you’re right, but we’ve got to hang five before they find out where we are.”
Both “Darth will keep searching up and down, until they find our hiding place. Before very long, they’ll know we’re gone. We’ve got to get lost in space. Riders to the stars, we are flying, we are falling and I can see the clouds rolling by, Riders to the stars we are sailing we are soaring. The only thing we can do is try to get the first available flight out of sight… We are Riders to the stars!”
Luke “Oh, look!”
R2-D2 and C-3PO enter from where Luke and Leia had just come running. R2-D2 is beeping wildly and C-3PO does his best to run to Luke and Leia.
Leia(Gasping) “Oh! Oh, You made it!”
Threepio(glaring down at Artoo, who is still beeping insanely) “Certainly not, that would never work!”
Leia(looking at Luke) “Oh, I wish Okey Ben Pinocchi was here!”
Luke “Yeah, he’d tell us what to do.”
Above the quartet of heroes, appears the head of the ghost of Okey Ben Pinocchi. He stares down upon them.
Pinocchi “I’ll tell you what to do! Why don’t you look over there? It’s your chance for escape.”
Leia(turning and pointing) “Oh, look over there! It’s our chance for escape!”
Pinocchi(somewhat annoyed) “I knew I heard it somewhere.”
Luke(walks in the direction in which Leia pointed) “Hey taxi!”
Standing to the far right of the stage is a man who attempts to bear some resemblance to Han Solo, however, he is standing in the doorway of a cardboard rocket ship, complete with fins, a ramp, a helmet that looks like something the original Mercury astronauts wore, and cheap sunglasses.
Artoo(low muttering beeps.)
Threepio(to Luke) “Pardon me sir, but that’s not a taxi. It’s a spaceship. But that’s exactly what we need.”
Luke, Leia, and Threepio approach the spaceship. Han remains motionless, leaning on the doorway of his craft.
Threepio(tapping Han on the arm) “Excuse me, sir.”
Slow to react, he removes his sunglasses as if he just awoke from a nap(or a drunken stupor), and looks down at Threepio.
Han “What can I do for you?”
Threepio(looking over to Luke and Leia) “Perhaps you two can explain?”
Luke and Leia look at each other and nod. Both begin to sing.
Both “Show us the way to get out of this world, for that’s where everything is. If everything is going, I don’t want to stay here. Who want’s to stick around and watch the world disappear?”
Leia(dancing towards Artoo) “His transistors are in trouble and his chips are weak.”
Luke(catching up with Leia) “And if we stay our chances for survival are bleak.”
Both “So show us the way to get out of this world, for that’s where everything is!”
Leia(running back to Han) “Can you help us escape?”
Han “If I can’t, I know someone who can!”
Han attempts a really sad attempt at a whistle, and from behind him, in the darkened spaceship emerges Chewbacca, the Wookie. Leia and Threepio retreat in surprise and fear, hiding behind our fearless R2-D2 unit. Han laughs maniacally as he delights in seeing everyone’s fear.
Han (singing) “Hey, hey, hey, hey!”… what follows is some of the worst, most indiscernible music and lyrics I’ve ever heard. Even after multiple viewing, I still couldn’t make out but a few words. I’ll spare you the gory details. Han, Chewbacca, Threepio, Luke and Leia all climb aboard the cardboard ship.
Everyone(waving) “BYE!”
The door slams shut. The spirit of Okey Ben Pinocchi appears again, over the now empty courtyard.
Pinocchi “You know, things are changing out here in space. I come from a distant planet called Sanford. My planet has it’s own moon, it’s own stars and it’s own galaxy… but this year, Sanford has no SON!”
The scene changes to view of our heroes escaping in their… uh… Saturn 5 rocket. Yeah, they actually used footage of a Saturn 5 rocket. The camera pulls back revealing that the rocket is actually on a view-screen of an Imperial Officer(Paul Lynde). Behind him march Stormtrooper babes(Ice Angel dancers in white nylons and motorcycle helmets… no kidding).
Officer(singing) “Hear my voice, where you are. Hop a plane. Grab a car. On a cloud. On a star. Come back to me! Have you gone to the moon? On a lushly lagoon? On a cosmic monsoon? What’s your course?!? Where the Force, can you be! Come back to me! Come back to me! Come back to me!”
The music ends, and the Imperial Officer is surrounded by twelve stormtrooper babes all laughing and pointing him.
Officer “I didn’t expect a standing ovation, but what’s so funny?”
Darth Vader enters from the left, at a quickened pace.
Vader(pointing at the Imperial officer) “You, you intergalactic fool! You’ll never get them back that way!”
Officer “I suppose you have a better plan?”
Vader “No plan at all, just a little Force.”
The scene cuts to the Imperial Officer and Vader watching the viewscreen. On the screen is footage of a Saturn 5 rocket taking off, run backwards!
Officer “Ah ha! You see, they’ve come back!”
Vader “They had no choice”
The scene cuts to the courtyard. Smoke billows from under the cardboard cutout rocket. The door drops and out walks out heros.
Han (proudly) “How about it? Was that a perfect landing?”
Threepio “That’s not what we need”
Leia “But you landed on the same planet.”
Han “But the landing part was perfect.”
Luke “I knew we should have taken a cab!”
To the left of the courtyard, two doors burst open and quartet of real Stormtroopers enter. They begin to sing and dance and are joined by the 
Stormtrooper babes, as they all surround our heros in an orgy of bad song and dance.
Stormtroopers(singing) “We’re Darth Vader’s raiders and we can’t believe the things that you do. We never met a troupe that play hide and seek the way that you do. But Fe Fi Foe Fum, look out people cause here we come. We know just what to do with you, so get ready, get ready! Cause you’re though when we’re through with you, so get ready, get ready. Here we come!
Stormtrooper Babes(chorus) “Get ready, cause here we come! Get ready, cause here we come! Get ready, get ready! Get ready, cause here we come! Get ready, cause here we come! Gotcha!”
Our heros are now completely surrounded by Stormtroopers. From the left, Darth Vader and the Imperial Officer stroll in.
Officer “You thought you’d get away? Don’t you know you’ll never escape from The Farce?”
Vader “That’s The Force!”
Officer(to Vader) “Oh, don’t bother me with grammer at a time like this!”
While the Imperial Officer is still scolding Vader, Chewbacca grabs him by the shoulders and neck.
Officer “Get your big ape hands off me!”
Vader raises his hand, as if he plans to choke someone, then retreats.
Vader “You’ll never capture me! And I vow by the power of my Force, I shall return”
The scene fades back to Okey Ben Pinocchi.
Pinocchi “The Force can’t touch me. I come from a planet 10 million light years away. Uh, shorter if the lights are with you.”
The scene fades back to the courtyard. The Imperial Officer is still held captive my Chewbacca.
Officer(yelling to a departed Vader) “Well, where does that leave me Mr. Ungrateful!”
Chewbacca pulls the Imperial Officer into the cardboard ship.
Everyone(singing, including the reformed stormtroopers) “You’re leaving on a jet plane, Don’t know when you’ll be back again!”
The ship door slams shut and everyone cheers again, including the Stormtroopers and Stormtrooper Babes.
Leia “Thank you all, your princess is safe at last. Your work is finished.”
Artoo (sighs with relief)
Threepio “Yes Artoo…”
Everyone(singing & dancing) “Up we go, into the wild blue yonder, striding high into the sky… Riders to the stars, we are flying, we are falling and I can see the clouds rolling away. Riders to the stars we are sailing we are soaring into a brand new brighter day. We are riders to the stars!”
Pinocchi “Can you imagine trying to find your luggage when this trip ends?”
The screen fades to a star field. The helmet of Darth Vader appears and disolves into a shot of the Millenium Falcon zooming away.
Vader “I vow by the power of my Force, I shall return.”
THE END
If you saw the Family Guy episode a month or two back in which they recreated the entire movie of Star Wars: Episode IV, you know it was one of the funniest moments on TV in the past few years (at least for me). So I found out today Seth MCfarlane and crew are definitely going to be doing the follow-up: The Empire Strikes Back. Oh Happy (Halloween) Day!
As big of a SW fan as I am (bigger than anyone I know personally); I know that I am but a padawan compared to some of the crazy-ass fans out there that know everything, and I mean EVERYTHING about Star Wars. On casual Fridays at the office they dress up like Boba-Fett; and they know exactly how many square feet of titanium it takes to plate a Class II Star Destroyer.
I heard this rumor like a year or two ago and now apparently it is true! From 
