clown-weiny
(n): The male genitalia of a comic entertainer, normally implementing exaggerated makeup and costume; typically denser than water.
The children became either manic-depressives or serial killers after Johnny's mom misread an advertisement and hired a clown-weiny for the birthday party.
Kids: What's that rainbow thing that at the bottom of the pool?
Adults: Gasp!
Kids: What's that rainbow thing that at the bottom of the pool?
Adults: Gasp!