Little Red Riding Hood says to the wolf: "What a big dick you have!"
Wolf: "The better to f*** you with!"
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Explanation
Explain Bear
Alright, listen up, buttercup. Little Red Riding Hood gets a peek at the wolf's junk and is all like, "Whoa, mama!" Then the wolf is just trying to get in her pants. It's a blue joke that is inappropriate. You probably tell these all the time, ya perv.