Yes, those are umbrellas that they are holding
I have only listened to this song about 10 times today… it was the ECMA “Download a Day” song on thechronicleherald.ca for March 7, 2013.
Electric Mud is a studio album by Muddy Waters. Released in 1968, it is a concept album which imagines Muddy Waters as a psychedelic musician. Producer Marshall Chess suggested that Muddy Waters record experimental, psychedelic blues tracks with members of Rotary Connection in an attempt to revive the blues singer’s career.
The album peaked at #127 on the Billboard Pop Albums chart. It was controversial for its fusion of electric blues with psychedelic elements, but was influential on psychedelic rock bands of the era.