Centerfold starts out with Peter Wolf going to the classroom and looking through a magazine which he mentions his girlfriend is in. Some girls then start dancing in a line wearing slips. Afterwards, more girls appear in the whole classroom in negligees dancing, smiling, and playing patty cake. Wolf then hands a couple of uniforms to two of the girls. Later on, the girls appear in sweatshirts as a cheerleading outfit resembling a 1980s style dress. After Wolf is knocked out by the girls with books, a party is going on with the cheerleaders and the video ends with Wolf running out of the school with four of the girls doing cartwheels.
The "school" where the video was shot had a girls' dance school on the floor above; the girls from the school were the ones appearing in the video.