Stephen Colbert was invited to headline the White House Correspondents Dinner. Bush was not amused. Colbert channeled Andy Kaufman channeling Jonathan Swift. Uncomfortable, brilliant, satrical performance art.
Interesting to note that none of the major newswires (AP, BBC, etc.) are mentioning Colbert, and the CSPAN repeat feed of the event is different than the live broadcast.
Edit to add: Full transcript of the routine.