It shows the former 'first lady' letting her hair down during the private party to celebrate Beyonce turning 34 in 2016.
Two videos were posted to The Beyhive's fan account on Twitter.
The first video showed the R&B superstar, her sister Solange, and the former first lady saying 'Bye Felicia!' to what appears to be a cellphone camera.
Shortly after the video was leaked, the Beyhive account tweeted a confirmation that the video was taken at the singer's party last year.
It is not the first time the famous women have joined forces to have a fun or support one another.
Obama teamed up with Beyoncé in 2010 for her 'Let's Move' effort to combat childhood obesity while the singer also performed for former president Barack Obama and the first lady at the inaugural ball in 2009.
Last year, Beyoncé and her husband Jay-Z joined several other A-list stars to celebrate the former president's final birthday in the White House in August.
And in 2014, the pair attended the party that Obama threw for the former first lady to mark her 50th birthday.
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