When you're at school and you have to wipe your ass, but it's only one ply...
Your finger breaks through... mmm, finger lickin' good.
One-Ply Toilet Paper
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Explanation
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Explain Bear
Alright, listen up, genius. The joke is about being at school and having to wipe your butt with cheap, one-ply toilet paper. It's so thin that your finger busts right through it. Then, to make it even grosser, the joke references the KFC slogan, "Finger lickin' good." It's funny because it's nasty and unexpected. Also, you probably have to wipe your butt multiple times a day.