I had to find out more. The singer is award winning artist Eduard Khil or Edward Hill. As of November 2009 he was still alive. I get a different title for the song everywhere I go but the most reliable source tells me it’s called “I Am So Happy to Finally Be Back Home.” It’s sung in the vokaliz style or singing without words. It was composed by Arkadii Ostrovskii and it was originally performed by Muslim Magomaev in the movie “The Blue Spark.” At least I have a good excuse for never having seen this one! The original did not have the psychedelic light show effects. It was just a guy on a standard late 60’s early 70’s variety show set.
I am fascinated by the massive cultural divide that makes this sort of thing an incredibly cool part of music history if you’re Russian, and Rick Roll hilarious if you’re American.