a blonky is a black honky.blinky means slightly insane.so that means that a blinky blonky is a mentally infirm black person emulating the mannerisms of a middle classwhite person.
Blocky: Hey guys! For a prank, use Firey's ferris wheel stand to dispense water on Gelatin! He'll get ultra soggy, unable to do anything! When recovered, repeat! Isn't that funny? Hahahahahah! {This program was brought you by Blocky's Funny Doings International.}