French/Chiptune Electro style white noise "bass"

[ransem]

I'm wondering how to recreate the synth heard in this song by french electro artist Danger.
http://www.youtube.com/watch?v=0Ol8s80qFlk 1:16
There's a funky disco octave jumping bass there but it's not the sound I'm trying to recreate. On the first beat of that bar there's a white noisey, chorusy weird "bass" synth that I just don't know how to recreate. It sounds like it's maybe phased or something and it has very little melodic content. Is there a trick to this or does it sound to you guys like just layered white noise?

thanks for any help!
cheers
Ransem