"Electric Avenue" is a classic from 1982 by Eddy Grant.
Beck used to play it live fairly regularly, often just the chorus in medley, but there have been some full versions as well.
When asked if they planned on recording this, bassist Justin Meldal-Johnsen confirmed that it is solely for the stage.
Not much more to say about it, but it's a blast to hear them do live. Beck's best cover ever.
"Electric Avenue" began as an ad-lib medley during live versions of "Beercan," I think around June 1998. Basically Beck just sings the chorus "We're gonna rock down to Electric Avenue and then we'll take it higher" a few times at the end of the song. Beck did the song this way a number of times between 1998 and 2000.
This of course was expanded when full versions of "Electric Avenue" began to be played.
The first time it was done fully, I believe, was on October 10, 1998. This was a corporate "party" in the Silicon Valley for Microsoft. Early in the set, it adlibbed during "Beercan," but that was not enough, and it was brought back later as the final song of the set! And what fun it is. Beck has a wonderful time singing it, especially that third verse! You can hear the band smiling. There are probably 3-4 full versions in this time.
During October 1999, Beck and his band played some warm-up shows before the release of Midnite Vultures the next month. At each, "Beercan" and "Electric Avenue" were performed together. Unlike the earlier combination of the two songs, where Beck just sang a little of "Electric" at the end of "Beercan," now one led directly into the other. It was a real smooth transition between the two songs--the bridge is led by some DJ Swamp scratching--and certainly the two songs have a similar fun vibe.