And in case anyone didn't see Prince's response to this skit ...
Yes, that's the real artwork that accompanied the real 2014 Prince single "Breakfast Can Wait". I guess that's not old-school 45 artwork on a paper slip cover ... maybe when you open the song on iTunes or something, that's what pops up?
In June 2014, Chappelle appeared on Jimmy Fallon's Tonight Show and discussed the use of his image on Prince's single: "That's a Prince judo move right there... You make fun of Prince in a sketch and he'll just use you in his album cover... What am I going to do—sue him for using a picture of me dressed up like him? ... That's checkmate right there."