Ass nut lamb gravy is a synonym for a greasy nut you bust in someones ass that has the same consistency as some cold gravy. It's usually used in some weird kinky shit where people like to be embarrassed sexually, or be talked down to like some sort of joke.
Could also be used in a sarcastic tone, but personally, I dont think ass nut lamb gravy is a joking matter. It's very serious.
Ruler of Lake Titicaca. Rumored to have a bunghole that gets very angry if it does not receive toilet paper. Cornholio the Great is often seen walking around with his shirt over his head and his hands in the air, chanting songs about his power, and his bunghole.
"I am Cornholio! You do not want to face the wrath of my bunghole, for I need TP!"
Butthead: Shut up, Beavis! (uh huh huh huh)
Beavis: Um, okay. (heh heh heh heh).