The joke we used to hear up here (north of St. Louis, on the Mississippi River) was this...
"Flush twice, it'll bypass the treatment plant and get bottled in St. Louis faster."
"Butt-weiser."
Everyone's old staple and favorite (Could be said about ANY brand, but more associated with Bud.): "Horsepi55."
What other derogatory "re-brandings" have you heard concerning either your favorite or most-despised brand(s) of beer?