Las Vegas alt-rockers Imagine Dragons have released their latest video and although “It’s Time” was nominated by MTV in 2011 for Best Rock Video, today’s offering could be their best yet.

With the help of a young woman and her little pink stuffed animal, the boys in Imagine Dragons are freed from captivity as they wait to be thrown into a cock fight-style ring. Except there are no birds fighting in this ring.

An evil Lou Diamond Phillips presides over the ring where a menacing Muppet-like animal destroys his opponents paying betters in big cash. Beneath the barn that holds the ring and its cheering audience, Imagine Dragons wait for their their impending doom; a fight to the death with the monster. It’s not ’til a mysterious woman drops her unassuming pink stuffed bear into the ring that things change for Phillips. After being tossed about for a bit, the pink bear rises up from the dirt floor, summoning his “radioactive-like” power bringing the purple beast to his knees.

After the band is freed and makes run for it, the evil Phillips is met with an ironic fate.

The band recently celebrated their millionth download of “It’s Time,” certifying it platinum. They will continue their U.S. tour through March followed by a string of U.K. dates.

Imagine Dragons’ debut album Night Visions is available everywhere.

– Jay Tilles, CBS Local