Watch Catherine Zeta-Jones and Daughter Carys Dance Through Rome in New Fendi Campaign

Fresh off a joint cover shoot for Vanity Fair Spain, Catherine Zeta-Jones and daughter Carys Zeta Douglas are teaming up again — this time, for Fendi’s #MeAndMyPeekaboo campaign to celebrate the brand’s iconic Peekaboo bag.

Premiering exclusively on PEOPLE, the whimsical, vintage-style video follows the actress and her daughter (whom she shares with husband actor Michael Douglas) as they journey through Rome toting a variety of Peekaboo purse styles.

“We had so much fun on set,” Carys, 16, said in a statement. “Our sense of humor is pretty similar so we are always laughing when [my mom and I] are together. She is honestly the funniest person I know.”

RELATED VIDEO: Watch Catherine Zeta-Jones and Daughter Carys Dance Through Rome in New Fendi Campaign

The on-going campaign — which starred Kris Jenner, Kim Kardashian West and North West last year — highlights the “complicity between mother and daughter,” according to a press release.

“We are very close,” Zeta-Jones said about her “fearless” daughter. “We talk about everything.”

Mary J. Blige’s ’90s anthem “Family Affair” can be heard playing in the background as the vibrant mother-daughter duo laugh and dance near some of the Emerald City’s most famous statues and landmarks.

In the clip, Zeta-Jones, 50, models a classic Peekaboo in Pequin (FENDI’s signature no-logo pattern), while Douglas added a shoulder strap to the red version for a casual, cool look.

The Peekaboo was released just over a decade ago, but it’s already established itself as a classic. Zeta-Jones described it as “versatile, unique and chic…timeless yet modern.“ She added, “I love its shape with those beautiful lines and the varieties of colors.”

“I believe the Peekaboo bag is timeless because it can work for any occasion, for any person,” Carys added. “It is elegant yet fun.”

The bag, available in a wide range of colors, sizes and materials, is named for its unique construction: it has two halves, a middle divider and a twist lock on either side. When left unclasped, the center portion of the Peekaboo is exposed.

To honor the unexpected element of the bag, Carys shared a secret of her own. “I can run really fast in high heels,” the teenager revealed. But her mom played coy: “I would [tell you]…but then it wouldn’t be a secret!”

“From the regular shape to the XS version, the Peekaboo bag is lit-up by the distinctive Pequin, Fendi signature logo-no-logo pattern,” the brand said in a statement. “Elegant and iconic, the Pequin embodies the timeless beauty of Catherine Zeta-Jones and her daughter reflecting their powerful connection.”

Learn more about the iconic Fendi Peekaboo bag and the #MeAndMyPeekaboo on fendi.com Oct. 29.