The sentence, which included three years in jail, 91 lashes and a fine, will be definitively lifted if the group stays free from "intentional criminal activity", their lawyer, Farshid Rofugar, said.
The youths, including the six who appear dancing in the video and the one who filmed it, were convicted for "participating in an illegal vulgar video activity" and for "dancing in mixed company with inappropriate clothing".
One of the girls had received an additional six-month jail sentence for illegal possession of alcohol in her home.
On Sep 18, an Iranian court deemed the group, which was arrested in May after the video became viral, of being provocative under the moral standards of the Islamic republic.
In the video, the six youths appear cheerfully singing the song in the terraced streets of Tehran and inside a home.
The girls are not wearing the head veil which is obligatory for all Iranian women, nor the traditional cloak used to hide details of their bodies.
A day after being arrested, they were released on bail, awaiting the trial.
Two of the men appeared on state television IRIB to show regret for having participated in the video and affirmed they had been deceived.
The video was posted on Youtube, which is banned by Iranian authorities as it includes uncensored material.