"Vive le Fcuk" is a black-and-white film with the look and feel of a French 60s arthouse movie, but set in London.
This is the second time that the copywriter Trevor Beattie and the art director Bil Bungay have won the Golden Elephant, which is given bi-monthly for the most outstanding use of cinema.
They first won one for PlayStation 2's "the third place".
The two runners up were D'Arcy's "Listen" for COI Communications Department for Education and Skills, and St Luke's "Unstoppable" for the Electoral Commission.
The Golden Elephant Awards are judged by a panel of industry experts and are awarded every two months.