Paris Hilton and Nicole Richie Reunite and Get Their 'Sanasa' on in First Teaser for Paris & Nicole: The Encore (Exclusive)

Paris Hilton and Nicole Richie may no longer be living the simple life, but they're ready for an encore.

PEOPLE can exclusively announce that the best friends' new three-part special, Paris & Nicole: The Encore, will premiere Thursday, Dec. 12, on Peacock. The special, which picks up 17 years after The Simple Life ended, follows Hilton and Richie, both 43, as they try to produce a once-in-a-lifetime operatic performance based on their self-coined phrase, "Sanasa."

In an exclusive teaser obtained by PEOPLE, the two are seen holding opera auditions in a large theater. As Hilton and Richie sit in the audience and listen to an impressive opera singer belt her song, they suddenly interrupt the performance.

"Sorry, can you hold for a sec?" Hilton asks, before Richie points out, "Something's not right."

"I think it's the words," Hilton suggests as Richie confirms her suspicions. "It's definitely the words," she agrees with her friend.

Then, Hilton asks the singer to "try it again... but this time, only use the words 'Sanasa.'"

After clarifying what they said once more, the opera singer continues performing with their request in mind. Hilton then drops her iconic line, "That's hot," and Richie adds, "We're really good at this!"

PEOPLE confirmed in May that Hilton and Richie would be reuniting for a new project 21 years after the launch of The Simple Life, which saw the duo travel around the United States doing unexpected odd jobs. Later seasons of the show followed Hilton and Richie as they tried their hand in the corporate world.

In August, Hilton and Richie filmed The Encore at a Sonic Drive-In in Duarte, Calif. The reality stars wore the fast food chain's blue uniform, which Hilton paired with a pair of sparkling silver heels, mirrored Swarovski sunglasses and a personalized diamond-encrusted handbag.

Meanwhile, Richie completed the ensemble with a cream pair of slingback heels. Richie had also been seen wearing a hot dog costume while shooting at the Sonic location.

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Richie told PEOPLE at the time that she and Hilton were "having so much fun" on the set of their new show. "We spend our days laughing and having fun, which is truly a dream," the mom of son Sparrow , 15, and daughter Harlow , 16, said.

Hilton gave a filming update on her Instagram page in July and asked her followers to share what they love about The Simple Life.

"I'm so excited for this reunion special event that and I are putting together to celebrate the 20 year anniversary of our show #TheSimpleLife ," the heiress wrote on July 17. "We would love to hear from you all about why you love #TheSimpleLife , your favorite parts and sing our iconic song #Sanasa Please make sure to use the hashtag #Sanasa so we're able to watch & find your videos. Love you all and hope to see you there! Keep #Sliving #ThatsHot #Lovesit #SillyAndBilly ."

Hilton celebrated Richie's birthday last month with a video compilation of moments from The Simple Life — and their new series.

"Nicole and I are having so much together," Hilton said in a Sept. 21 Instagram Reel . "It's been ... it feels like we're teenagers again every time that we're together, just laughing every second."

In the caption, the Paris: The Memoir author wrote to Richie, "So many unforgettable memories together Can't wait everyone to see what we're up to next Love you, sis! #Sanasa "

All three episodes of Paris & Nicole: The Encore premiere Thursday, Dec. 12, on Peacock.