Alvarez, of course, has a unique perspective on McGregor's trash talk. The two went back and forth during several news conferences last year, prior to their UFC lightweight title fight in New York.
Watching last week's tour brought back memories for Alvarez, who says he was amused by McGregor's antics, even when they were scheduled to fight.
"I was sitting back with some popcorn, really enjoying this tour they went through," Alvarez told ESPN's Five Rounds podcast. "The most comical thing for me, even when I watch movies, is the guy who's so crazy confident about himself, with the mink jacket -- to me, that is so funny.
"I wish I could be like that. As a fighter, I wish I could do that, so I could make people laugh. But I can't, it's not my style. I'm glad he does it. We need guys like that."
Alvarez (28-5), who is currently in Las Vegas to coach "The Ultimate Fighter" reality series, was less impressed with Mayweather.
Both fighters drew criticism at times -- McGregor faced accusations of racism; Mayweather used a homophobic slur -- but Alvarez said it was clear McGregor came across better overall.
"Floyd's stuff, I don't know," Alvarez said. "I don't think there's a lot of intelligence behind it."
Alvarez, who lost to McGregor via second-round TKO, said he plans to attend the fight on Aug. 26 in Las Vegas and believes McGregor is capable of handing Mayweather his first pro loss.
"Within [the first] four rounds, if you don't think Conor can knock this guy out, you're an idiot or you just don't know fighting," Alvarez said. "It can very well happen. If he doesn't get it done by then, then it could look very one-sided. The technical boxing of Mayweather is enough to make it look really one-sided.
"But Conor, there is a very real chance that he can put him away."
As far as his next fight goes, Alvarez, 33, will meet undefeated lightweight Justin Gaethje (18-0) later this year, following the conclusion of this season of "TUF." No official date has been announced, but it's expected to take place in December.
Gaethje earned a thrilling TKO over Michael Johnson, a former teammate of Alvarez, earlier this month. The bout was an instant Fight of the Year candidate, which Alvarez is no stranger to. Both are known for fan-friendly, back-and-forth styles.
"Everybody could see hints of me in that [Gaethje, Johnson] fight, the way Justin kind of puts it out there," Alvarez said. "If you get the right guy in front of you, you can make some magic -- and he's one of those guys.
"These are the kind of fights I win every time. So it should be fun to see who is 'America's Most Violent.' It's a battle of that right there."