[1] The song has been covered by Australian and international artists; in 1987, a version by INXS, featuring Jimmy Barnes, was included on the soundtrack of the film The Lost Boys and was a top 50 Billboard Hot 100 hit in the United States.

Australians INXS and Jimmy Barnes released a version in December 1986, which was engineered by Al Wright and appeared in the 1987 Joel Schumacher film The Lost Boys.

A video clip was produced featuring INXS and Jimmy Barnes performing the song, with scenes intercut from The Lost Boys.

"Good Times" was interpolated by the American rock singer Meat Loaf on his 1995 song "Runnin' for the Red Light (I Gotta Life)" from his album Welcome to the Neighbourhood.

This new version, credited to Vanda, Young, Sarah Durkee, Meat Loaf and Patti Russo featured significantly different lyrics.

The members of Hindu Love Gods were Mike Mills, Bill Berry and Peter Buck of R.E.M., Bryan Cook, and Warren Zevon.