'The Late Show with Stephen Colbert' featured a gas 'The Lord of the Rings' parody last night.

Talk show host Stephen Colbert shot a few slots in New Zealand of late. They're being seeded out gradually and this has got to be the best yet.

To give you context, Colbert is a MAJOR 'LOTR' fan. In the past he'd made guests like Sean Astin, Andy Serkis and Liv Tyler talk about if not recreate bits from the trilogy.

When guests lack knowledge of the fantasy flicks, Colbert zings them hard (as happened with Emma Stone).

In this video, he places himself right in the heart of Middle-Earth. After a conversation with director Peter Jackson, they "make a trilogy" featuring Colbert's character "Darrylgorn".

Behold the trailer for 'Stephen Colbert presents Peter Jackson's The Lord of the Rings series' The Hobbit: The Desolation of Smaug's "The Laketown Spy" is Darrylgorn in Darrylgorn Rising: The Rise of Darrylgorn The Prequel to Part One: Chapter One.'