"Monkey butter
Stephen Colbert says this is a Hollywood term for something sexual. Mentioned during his wrap up report of the 2003 Emmy Awards, where he apparently participated in an A-Lister orgy during an after party. It is implied to be gross.
Jon Stewart: I think they liked the 'fucking' story better.

Stephen Colbert: I don't blame them Jon. ...I don't blame them Jon. Everyone likes the monkey butter." (urban dictionary, 2017)

Here is a link to the Colbert video: http://www.cc.com/video-clips/qzor72/the-colbert-report-the-word---monkey-butter

Reference:
Urban Dictionary. (2017). Monkey Butter. Retrieved from http://www.urbandictionary.com/define.php?term=Monkey%20butter