They aren't actually collaborating, just sharing the same stage at The Birdland in New York City for this broadcast from the All Star Parade Of Bands series from NBC Radio, recorded on June 4, 1955.
Erroll Garner opens the broadcast, and it includes his latest composition, Misty along with a lot of other great sounds for the first half of the show.
And then Perez Prado takes over the second half, opening with Cherry Pink (and Apple Blossom White), which was a huge hit for him around this time. The rest of his set is high-voltage, just like all of his material.
Two great sets from a very unlikely pairing, but that was what radio in the 1950's was all about.