The singer/songwriters' version of the classic Frank Loesser tune, which was originally recorded by Ricardo Montalban and Esther Williams for 1949 movie Neptune's Daughter, will appear on Holidays Rule, a collection of holiday songs produced for coffee shop chain Starbucks' record label Hear Music by The Decemberists star Chris Funk.
The duet has also been recorded by Dinah Shore and Buddy Clark, Margaret Whiting and Johnny Mercer, Robert Palmer and Carnie Wilson, Tom Jones and Cerys Matthews, Ella Fitzgerald and Louis Jordan, James Taylor and Natalie Cole, and Sammy Davis, Jr. and Carmen MCRae, although the most famous version of the tune appeared on Dean Martin's Christmas With Dino album.
The track will be a big hit this Christmas, with three new versions on major holiday releases - as well as Wainwright and van Ettens' rendition, the Loesser tune has also been recorded by Cee Lo Green and Christina Aguilera, and Colbie Caillat and Gavin DeGraw for Cee Lo and Caillat's upcoming festive compilations.
Meanwhile, Paul MCCartney, The Civil Wars, Calexico, the Shins and fun. have also contributed festive tunes to the Holidays Rule compilation.
MCCartney offers his version of The Christmas Song (Chestnuts Roasting on an Open Fire), while The Civil Wars perform I Heard the Bells of Christmas Day and the Shins have re-recorded MCCartney's Wonderful Christmastime.
We Are Young hitmakers fun. have contributed their rendition of festive hit Sleigh Ride.