The TV spot sees Ferrell’s character Buddy from the 2003 movie apply for a job at the British supermarket, with shots from the film expertly cut into the ad so viewers can follow his journey to securing the role.
While promoting his new film Spirited, the actor, 55, was asked what he thought of the ad and playfully told Yahoo Entertainment UK: “Well... it kind of helped me finally get paid market value for when I shot Elf.”
Before, he sincerely added: “No, I thought it was well done.”
When asked whether he would ever return to Elf, the former SNL star said: “No, I think that would look strange - a 55-year-old man running around in tights.
“Yeah, I think Elf is its own entity.”
On Monday (November 14), Ferrell admitted that he feared that his classic Christmas film Elf would be “my last movie” while filming it almost 20 years ago.
The US actor and comedian said the film had “stood the test of time” because it was “beautifully uncynical”.
Elf was released in 2003 to widespread critical acclaim, and is considered to be one of the top Christmas films of all time.
Ferrell appeared on BBC’s The One Show, alongside fellow actor Octavia Spencer to discuss their new festive film Spirited, which they star in with Ryan Reynolds.
Asked why Elf continued to be so popular 19 years after its release, Ferrell said: “I think because it’s beautifully uncynical.
As I was running around New York City in my yellow tights, I was thinking, ‘This could be my last movie’
"As I was running around New York City in my yellow tights I was thinking "This could be my last movie"'
19 years since #Elf came out?! 🤯
🎁 What's your fave #WillFerrell quote from this all-time Christmas classic? 🎄#TheOneShow 👉 https://t.co/Rn1NxtUCQY pic.twitter.com/XhQR0WkoUZ
— BBC The One Show (@BBCTheOneShow) November 14, 2022
“It’s a character that’s excited by everything that’s mundane to us in our normal lives, it’s a fish-out-of-water story.
“It’s just very sweet and hopeful, and turns out it was funny.”
Speaking about filming the movie, he said: “At the time, it was as I was running around New York City in my yellow tights, I was thinking, ‘This could be my last movie’.
“Little did we know we were making a movie that would stand the test of time.”