Both the name of the song and its lyrics are gibberish but are intended to sound like English in an American accent.
Celentano’s intention with the song was not to create a humorous novelty song but to explore communication barriers. The intent was to demonstrate how English sounds to people who do not understand the language proficiently.
Adriano Celentano - Prisencolinensinainciusol
From https://en.wikipedia.org/wiki/Prisencolinensinainciusol: