The music video consists of My Chemical Romance tightly packed into a room where they play their instruments in very little color. In the video, Frank Iero is seen singing backup for Gerard Way along with lead guitar player Ray Toro. Though the video was shown at the record release show for My Chemical Romance's first album, it was only officially released when the album I Brought You My Bullets, You Brought Me Your Love was re-released in 2005. The re-release included this music video, as well as the one for "Honey, This Mirror Isn't Big Enough for the Two of Us". The re-release also had an Eyeball Records CD included along with it.
Gerard Way has said this song, "Skylines and Turnstiles" and "Headfirst for Halos" are the most important songs on the album. Way has also stated "Vampires Will Never Hurt You" as his favorite song of all time, and his most favorite vocal performance he has ever done.