Knock Knock / Who’s there? / Butch, Jimmy and Joe.
Butch, Jimmy, and Joe.
Butch, Jimmy, and Joe Who?
Butch your arms around me, Jimmy a kiss, and lets Joe.
This is a knock-knock joke. An awful knock-knock joke. The humor in this joke lies in three stupid puns: Butch sounds like "Put", Jimmy sounds like "Give me", and Joe sounds like "Go". This might actually be the case if the speaker has his nose plugged up, or is holding it, but there is no indication in the setup that indicates that this is the case.