The movie "Clerks 2" attempts to re-conceptualize the word by proposing that there is nothing inherently black about porches, monkeys, or laziness.
Randal: Since when did "porchmonkey" become a racial slur?
Dante: Since ignorant rednecks started saying at a hundred years ago.
Randal: "Porchmonkey" is something my grandmother use to call me because I use to sit on the porch all day looking at the neighbors.
Dante: That's like calling someone a "kike". Did you ever think that your grandmother was a racist?
Randal: No way. She had the utmost respect for the Jewish community. She use to tell me to be nice to the Jewish kids or else they'd put the sheeny curse on me.
Dante: WHAT THE FUCK!?
Dante: Sheeny is a racial term for Jewish people...your grandmother was a racist.
Randal: My grandmother was not a racist! Wait... Now that I think of it...she did refer to a broken bottle as a "nigger knife" once. Maybe my grandmother was kind of a racist.
Dante: You think?
Randal: Im taking it back!
Racist: You filthy crack smoking porch monkey!