This single features half Led Zeppelin. Jimmy Page was in the band, and John Paul Jones played bass as a session musician.
And as the Yardbirds broke up they sort of morphed into Led Zeppelin as Plant came into the Yardbirds as singer, and he brought in John Bonham. Jimmy Page had played with John Paul Jones as a session bass on some "pop" songs so then he joined as well.
As someone who grew up in the 1960s I remember bands jumping on the psychedelic bandwagon as it became more popular.
The Yardbirds started as a jazz / blues band (hence the name) but soon decided to join in the psychedelic boom (as did the Rolling Stones with their "Satanic Majesties" album).
This single is an example of a psychedelic single, though I have to say the song sounds a bit of a mess and was not a hit in the UK.
http://en.wikipedia.org/wiki/The_Yardbirds