I got this in an email (thanks, Bob), and found it on Alex King's blog. The Washington Post Style Invitational asked readers to take a word from the dictionary and create a new word by adding or subtracting a letter. Here's a sample:
Intaxication: Euphoria at getting a tax refund, which lasts until you realize it was your money to start with.
Bozone: The substance surrounding stupid people that stops bright ideas from penetrating. The bozone layer, unfortunately, shows little sign of breaking down in the near future.
Click here to read the other winners.
In the same vein, here is another list of winners, also courtesy of Alex. For this one, contestants were asked to invent alternative meanings for words already in the dictionary, without changing the spelling. For example:
Coffee (n.), a person who is coughed upon.
Esplanade (v.), to attempt an explanation while drunk.
Willy-nilly (adj.), impotent.
Lymph (v.), to walk with a lisp.
The rest of the list is here.