Come (you) and Put it (ass, that booty, pussy, etc...) down on me ( set it on my d)... Another way of saying lets have sex without sounding awkward or strange.
Person 1: Light the pencil on fire, put it down here, because the police literally arrested me, but i literally did nothing!
Person 2: Oh come on, you know that isn't true, you did something bad, didn't you?
Person 1: I didn't!