I recognized this song the instant I heard it but for the life of me I can't remember why. From Speedy Gonzales cartoons when I was a kid? [From that I remember "La Cucaracha"!] From the old Zorro TV series? I just don't remember.
Speaking of Speedy Gonzales, I got a kick out of looking at a condensed clip of all the Spanish used in those cartoons: https://www.youtube.com/watch?v=mjze2-_Pp3Y