Hoda Kotb Says Savannah Guthrie Is So Funny She Sometimes Worries They'll Get Fired: 'She Drops Bombs'

The Today show crew brought a massive dose of Sin City to New York City for their fun-filled Halloween episode this year.

PEOPLE was on hand to watch the unveiling of the Today squad's highly anticipated costume reveal for their annual Halloween variety show. The theme this year? Viva Las Vegas!

Throughout the festive morning, Today co-hosts Hoda Kotb and Savannah Guthrie could not contain their joy and laughter, whether on camera or off, as they posed and "performed" dressed as Cirque du Soleil aerialists.

"You don't wanna be next to Savannah," Kotb, 58, told PEOPLE. "She drops bombs on me during the show that I'm seriously afraid I'm gonna laugh and get fired."

Guthrie, 50, confirmed: "We basically laugh through every single morning."

The dynamic duo, who reassured PEOPLE that they have zero dance or gymnastics experience, wore aqua-hued matching one-piece ensembles as they climbed up onto aerial rings hanging from a stage set-up at Rockefeller Plaza for the big show.

"When we rehearsed, the rings were maybe like three inches off the ground. And then we came out here and we're like, 'Whoa, those are really high,'" Guthrie said.

"Yeah," Kotb chimed in. "They put a mat underneath and had an ambulance standing by. Our only job was to hold on because they couldn't tether us because of all of our incredible moves."

Behind the laughs, the reality is that the two working moms are there to lift and support each other whenever the other person is having a bad day.

"I think the best part is, is we can lean on each other," Kotb shared. "Cuz the good news is, when one of us is having a bad day, the other one normally isn't. So it's like, that's the way it kind of works. It's like we kind of balance each other out."

Ultimately, Kotb said the best thing they do for each other is "We just listen. I think that's it. Someone told me the best way to have a friendship or raise kids or do anything is four words. 'Listen and love, love, love.' That's it."

"It's true. That's it," Guthrie affirmed. "We like give each other a little squeeze. That's it. A nudge."

Outside the famed NBC studios, loyal fans lined up on Monday to see their favorite Today stars dressed in various Vegas-themed attire.

Al Roker, 68, come out dancing as late legend Sammy Davis Jr. while "magician" Carson Daly, 49, channeled illusionist David Copperfield, with Dylan Dreyer donning a black bobbed wig and snazzy black sequins as a magician's assistant. Willie Geist, 47, portrayed Las Vegas's biggest star as the one and only Elvis Presley.

Dressed as Celine Dion, Jenna Bush Hager, 40, wore a lavish silver sequined gown and did her best rendition of "It's All Coming Back to Me Now" with playfully dramatic moves, doing her best impersonation of the superstar.

"I love Celine," Bush Hager shared to PEOPLE. "I feel like I've been preparing for this moment since I was like 20 years old."

Today's D.C. correspondents Peter Alexander and Kristen Welker, both 46, recreated Ben Affleck and Jennifer Lopez's surprise Vegas wedding in a tux and bridal gown.

In red boxing gloves and a red satin robe, Craig Melvin hit the ring as Muhammad Ali, telling PEOPLE that he gave a heads up to the late legend's wife, Lonnie Ali, who he connected with when he covered the sports figure's memorial service in 2016.

"He's an icon," Melvin, 43, told PEOPLE. "If you look back, we haven't done a lot of characters who are no longer with us, so I was a little apprehensive. But they do such a good job with the hair, the makeup and the wardrobe stuff."

Showing off his championship belt, he revealed, "This belt was made somewhere overseas and they shipped it in a couple weeks ago, and these suspenders hold it up because it's so heavy."

However, it was Sheinelle Jones, 44, in full Las Vegas showgirl mode who stole the show with her dance moves — after blowing her colleagues away last year as Tina Turner.

"She did a great, beautiful dance as a showgirl," Guthrie praised.

"She's a pro," Kotb added. "I loved her I loved Jenna. I loved Sammy Davis. Al — and that was Jenna's real voice. She hit one of the high notes!"

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Today airs weekdays from 7–10 a.m. ET on NBC.