Plus, an unexpected Beyoncé impressionist joins him for a duet!
The stand-up comedian and Spinning Gold star -- whose SNL tenure from 2010-16 included pitch-perfect impersonations of Denzel Washington, Chris Rock, Eddie Murphy and more -- teams up with Nikki Glaser for a new episode of the musical competition show, and showcases one of his most famous characters when he comes up against the Wheel of Musical Impressions.
Pharoah gets tasked with performing "Mary Had a Little Lamb" in the style of JAY-Z, and flawlessly nails the bit, "HOVs" and all, getting a standing ovation from the crowd!
"Jimmy, I haven't felt this way since I was in Madison Square for the first time," Pharoah-as-JAY tells host Jimmy Fallon.
However, the amazing performance doesn't end there. Fallon then calls up Jam Band singer Jade Novah to show off her equally impressive Beyoncé impression, and the two pull off an impromptu duet! Watch the stunning performance in the video below:
On That's My Jam, Fallon brings some of his favorite Tonight Show games -- along with new music, dance and trivia challenges -- to a new mega-fun variety show. Each episode features two teams of two celebs competing for a charity of their choice in games like "Launch the Mic," "Air Guitar," "Don’t Drop the Beat," "Perfect Mash-Up," "Slay It, Don’t Spray It" and many more.
Other upcoming competitors this season include T-Pain, Anthony Anderson, Jordana Brewster, Kate and Oliver Hudson, Bebe Rexha, Ryan Tedder, Brent Morin and more.
That's My Jam airs Mondays at 9 p.m. PT/ET on NBC. See more hilarious moments from the show in the video below.