The video was posted online by Covington who was yelling: "Look at this clown. You're a f***ing clown Fabricio Werdum. What's up? You just punched me in the face.
"F*** Brazil. F*** Fabricio Werdum. Little b**** ass. F*** Brazil. Bunch of filthy animals. And they wonder why they get talked to like that because they're a bunch of animals.
"How f***ing funny dude. Dude punched me in the face."
Werdum gave an inteview with Brazil's UOL and said Covington was the instigator of the incident.
"This guy is really cocky," Werdum was quoted saying.
"I went down with my master (Rafael Cordeiro) to get a haircut and shave my beard.
"We were at the lobby, and I've never seen this guy before.
"When I walked past him, he looked at me and said 'filthy Brazilians'.
"I looked at him and said 'hey.' I hit his phone and asked 'what did you say?'
"I don't know why he insists in talking about Brazilians. I don't get it. He wants media, wants to copy Conor McGregor.
"He looks ridiculous the way he does it. I couldn't believe when he said that.
"We started to argue and he continue to scream that Brazilians were animals."
The fighters are in Sydney ahead of Sunday's Fight Night event.
Police said Werdum was charged with common assault and expected to appear at Downing Centre Local Court on December 13.
Neither fighter required medical treatment following the fight.