monkey butter
1) A solid butter representation in the form of a hairy monkey, often mistaken for the butter used by monkeys and apes. That is of course untrue.

2) The name of the theory that monkeys are able to spread butter on toast, or blueberry muffins, or other things. This is a theory that dates back to the early 2000s, prior to the Stephen Colbert Monkey Butter Incident of 2006, which came as a shock to the theorists. 

3) Out of the incident came a new definition of monkey butter, meaning "outrageous" or "no way" or "impossible."    
"I had some monkey butter on my bagel this morning for brunch."

"The philosophers thought long into the night about the concept of monkey butter."

"What? Stephen Colbert said monkey butter? MONKEY BUTTER!"