The 51-year-old star, who was honoured with a special tribute at the 60th San Francisco Film Festival, sat down for a conversation with Ratner.
The two had a long discussion on films, Hollywood- Bollywood collaborations, success and failure, and towards the end shared a light groovy moment.
"With #KingKhan @iamsrk doing the #LungiDance during the @sffilm Inspiring, humble, a great dancer, and smells great too!" Ratner posted a video on Instagram.
Shah Rukh thanked Ratner, who gifted him a doll modelled on himself, after the session.
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The actor also thanked the festival organisers for making him feel special.
"You made me feel special and all who came to attend. Love you and hugs," he tweeted.
Shah Rukh's "My Name is Khan" was screened as part of the line-up of movies at the festival.