The first time I ever heard this saying was on a construction site where I continued to hear it quite regularly. Basically it means fucking something up. Trying to do something that may require a little bit of skill,experience or coordination and fumbling around with it and not getting it right. Picture a monkey all excited trying to get a hold of a football so he could hump it.
Applying for fall classes, I had to register with the burser, the advisor, check my prereq.s, and then stand in line, and then I found the class I wanted was closed out. "Man scheduling for classes this morning was like a monkey fucking a football"
Bill - Did you go to the concert last night?
John - Yeah, dude it was like a monkey fucking a football, the organizers better get their shit together next time.