There's a cool (little) history behind this teaser (borrowed without permission from Movie Trailer Trash):
Though planned for a summer release ... Austin Powers: The Spy Who Shagged Me, was not far enough along in production to supply material for a trailer when The Phantom Menace teaser first appeared in theaters. However, at Myers's insistence, New Line green-lighted a special-shoot trailer spoofing both the Phantom Menace teaser and the virtually inexplicable excitement it had generated, rushing the teaser out to theaters a week after the Phantom Menace trailer appeared.
I love this teaser. Check it out here, at 3,66Mb.