Miley Cyrus and Dolly Parton Tease 'legendary' New Year's Eve Special

This New Year's Eve is going to be "legendary" — for two reasons!

First, because Miley Cyrus is returning to ring in the new year with "Miley's New Year's Eve Party" on NBC. And second, because this time Dolly Parton is going to join her!

"'Miley's New Year's Eve Party" is about getting glamorous and dressing your best," Cyrus, 29, said in a promotional video on Instagram.

"Well, we do that every day, don't we, Miley?" says Parton, 76, seated next to her.

"You taught me well," says Cyrus, who is Parton's goddaughter.

The caption for the video gives all the important details about the show, reading, "NEW YEAR, NEW CO-HOST ! 🍾 Tune in to Miley’s New Year’s Eve Party 12/31 at 10:30pm ET on @NBC and @PeacockTV to watch us rock out the show."