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1.
To perform a novelty dance from the 1960s called the monkey.

The fictional character, Johnny Bravo (from the cartoon of the same name), is known to "do the monkey" in the show's opening credits.
by DeliriumDude March 06, 2009
 
2.
Having sex with muffy may
Yesterday i was so horny and muffy was so around do i do the monkey
by Solid Clash May 17, 2008