Nine different animators contributed to make this segment for Adult Swim’s Off the Air (which is brilliant, and you should check out if you aren’t familiar). The song was produced by Baltimore-based electronic artist Dan Deacon.
There are interviews with all of the contributing animators here. From the interview with Dan Deacon:
Lately, I like thinking about my body, memory, and consciousness being all entirely separate and constantly changing and how they will all expire at different times. I like thinking about shifting mood as a different consciousness merging with my memories inside my physical form or my memories shifting with my form. I love that I have no way to ever measure or check reality…how it’s just a series of smearing instances that I’ll never truly know or understand. There is no constant and I think that both very serious and truly absurd.