Sesame Street has a history of creating parody music videos (like Cookie Monster's "Share It Maybe"). Videogames are prevalent enough in popular culture that they're deserving of Sesame Street parodies as well. After all, the target audience of Sesame Street today has always had access to things like the Internet and free videogames.
One set of shorts in Sesame Street: Elmo's Alphabet Challenge is all about learning letters through cartoon parodies of famous videogames. The above trailer shows homages to Super Mario World, Mario Kart, Guitar Hero, and the Final Fantasy series. Check out Wired's article for Elmo's Pac-Man tribute.