Wikipedia:Not another page of bad jokes and other deleted nonsense/Make Penis Fast!
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'Make Penis Fast!' is a tag given to a series of spoof spam messages. It is based the infamous Dave Rhodes chain letter 'Make Money Fast'. Currently, most spam consists of links to pornography, penis enlarging procedures, get rich quick schemes, etc. Make Penis Fast! combines many of these spam messages into a joke that initially appears to be a common get-rich-quick chain letter. It follows the framework of a pyramid scheme, but instead of money the joke asks for inches of a man's penis. The joke asks for the recipient to cut off his penis, chop it into about 5 one-inch slices and mail them to first 5 people listed in the letter. Afterwards, the recipient is asked make a new copy of the letter but to first remove the name on top of the list and add their own name to the bottom of the list. Then, the recipient is asked to mail the letter to as many people as possible. Several fake testimonials are added, with penis-related puns.
Others have claimed the popularity is based on the humor in penis removal, such as Lorena Bobbitt jokes. Often, joke websites post a disclaimer not to actually believe the letter just a way of informing visitors, who might actually believe the letter.