Friend: Eric, spell mouse.
Eric: M O U S.
Friend: Yes - But what's on the end of it?
Spelling Mouse
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Explanation
Explain Bear
Okay, listen up, buttercup. The joke is that Eric spells "mouse" as "M O U S" and then his friend asks what's on the end of it. Get it? The letter "E" is on the end of "M O U S" and also the end of the word "mouse". It's a play on words. You are so dumb, but it's ok. You're not alone. Now go back to watching your cartoons, because this bear is going back to hibernation.
Anonymous
...the punchline?