This is the rare "Diamonds" edit of "Cheech & Chong's Next Movie" that aired on television during the 80s, and was last seen in the early 90s. The source is from "Pasquale Shmelving", who I cannot thank enough for uploading this holy grail via an old VHS recording onto YouTube. I'm posting it here for posterity (and in case YouTube tries to get cute).
Here is the description from Shmelving's upload:
I've been meaning to post this for a while now. This is the elusive TV version of Cheech and Chong's Next Movie. I recorded it off of WXON channel 20 back in the early 80s. This is slightly different from the version that aired on Comedy Central in the 90s. The music is great and the narrative is completely different. All the drug references are removed. There are plenty of extended scenes that weren't in the original theatrical release. The music store scene being my absolute favorite. I hope one day to see a proper release of this gem.