The latest incarnation of the band, led by frontman Martin Phillipps, has been recording at the New Zealand Music Industry Centre studio in Albany St for the past two days, and will return to the studio today to complete mixing the track.
But this time Phillipps and the band have broken away from their rockier past to move into the less-edgy world of the festive season.
The "very old" traditional Christmas song would feature on a Christmas album raising money for charity, alongside works by other New Zealand artists, producer Monique Rhodes said.
However, fans of the Dunedin Sound act should not despair.
"I hate Christmas music. I loathe it," Ms Rhodes said. "I want to make an album of Christmas music that's so cool you will go `wow'."
Phillipps was sure the song - like the album - would survive the test of constant repetition through the speakers of department stores in December.
Even so, Phillipps said it took a day's contemplation after being approached by Ms Rhodes before he was ready to say yes to the idea.
Some friends thought it was "a bit of an odd thing to do", but he was convinced by the record's charitable intent "and the fact I could choose my own song".
"I was initially a bit dubious about a Christmas album. They do have a bit of an overly commercial reputation.
"When you get to Christmas and you start seeing these things advertised on television, most of them just seem horrendous ...
"The session has gone really well and it's already feeling like a good record and a good song."
Ms Rhodes, a professional singer-songwriter from Dunedin, and now based in France, said the tracks and the identities of all other contributing artists were a closely guarded secret.
The album, the second Christmas project she had produced, would be released in November. It followed last year's platinum-selling album Merry Christmas Baby, which featured New Zealand artists including Opshop, Hollie Smith and the Jordan Luck Band performing a mix of Christmas songs.
This year's album would include two original tracks sung as duets by competition winners and New Zealand celebrities.
Proceeds would support the shine* family violence prevention service.
