Two years ago, Makonnen and the late Lil Peep came up with an idea for what would eventually become the magical dream-like video for their FOB-assisted Billboard Hot 100 hit "I've Been Waiting." Now, as the song holds strong on the charts and the critical praise for the upcoming Everybody's Everything documentary continues to build, the new video (featuring creative direction by Sus Boy) has been released.

"This video is a magical one," Liza Womack, Peep's mother, said when announcing the video earlier this week. "Gus and Makonnen came up with the idea for it two years ago. I'm so glad the idea has been realized. You will see the subtle presence of Gus in it, if you look closely. Well done, guys!"

For Sus Boy and Makonnen, bringing this vision to life offered the unique opportunity to see their friend again. "Peep wanted this video to bring people up into the clouds, into the fantastical world of his mind," Sus Boy said in a statement. "Making it now, alongside Makonnen, is our way of visiting him again."

Catch the Andrew Donoho-directed video, featuring appearances from FOB's Pete Wentz and Patrick Stump, up top. Previously, a vertical video was released featuring a very special dog who also gets some screen time in the new one:

As fellow longtime Peep fans recall, FOB was mentioned in interviews as one of Peep's favorite bands, making the song all the more special for his friend and prolific collaborator Makonnen. 

"He mentioned them as artists that he wanted to work with," Makonnen told Complex in January. "And he always told me I was one of his favorite artists, and it was a dream come true working with me. We were mutually fans of each other, and respected each other very much, so I think it's a great collaboration for all of us."

The track serves as a single from Peep and Makonnen's full-length collab project, tentatively titled Diamonds. According to a Billboard report from February, we can expect the album this year. The creative process behind bringing the project's songs together, Makonnen has explained, became a period of great healing for both artists. Though the two initially began sessions with the unspoken challenge of trying to see who could pen the "sadder song," Makonnen said they eventually united behind a common goal of aiming instead for "tears of joy."