Taylor, 29, unveiled the promo on Monday (17.06.19) and in it Katy, 34, appears dressed as a giant burger in a food fight scene towards the end of the video and she spots Taylor in a French fries outfit and the pair come together for a cuddle.
The two pop superstars are believed to have fallen out after Katy took three of Taylor's backing dancers for her 'California Dreams' world tour before her 'Red Tour' had finished in 2013.
The pair then traded verbal blows on Taylor's track 'Bad Blood' and Katy's song 'Swish Swish' but now they have put their feud behind them.
Both singers shared stills of the moment on their Instagram accounts, with the 'ME!' hitmaker captioning the post: ''Happy meal (sic)''
Katy wrote: ''This meal is BEEF-free (sic)''
Taylor released of her pro-LGBTQ song last week and gave a surprise performance at New York's gay landmark Stonewall Inn on Friday (14.06.19).
The film shows Taylor living in a multicoloured trailer park with neighbours that include Laverne Cox, Adam Lambert, Ciara, Jesse Tyler Ferguson, Queer Eye's Jonathan Van Ness all of whom are shown ignoring anti-LGBT protesters.
The video - which was directed by directed by Drew Kirsch and Taylor herself - also features drag impersonators of the 'Love Story' singer along with other female pop stars such as Sia, Beyoncé and Ariana Grande.
Taylor previously penned a letter to Tennessee Republican senator Lamar Alexander asking him to support the Equality Act - which would amend the Civil Rights Act to prohibit discrimination on the basis of sexual orientation and gender identity across various sectors - and created online petition to help encourage the legislation.
The video closes with the message: ''Let's show our pride by demanding that, on a national level, our laws truly treat all of our citizens equally. Please sign my petition for Senate support of the Equality Act on change.org.''
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