There were some serious lessons to be learned last night. First, a logic problem: Michael Steele is to Barack Obama as Tickle Me Elmo is to... According to Jon Stewart, the answer is Giggle-Time All-Mo. Sad, but hilarious.
Conan followed up with a basic but important lesson regarding Michael Phelps: "Kids, never share your pot with someone who has the lung capacity of a dolphin."
These jokes and more here: