Will Ferrell Takes Credit for Paul Rudd's Sexiest Man Alive Title: 'I Turned It Down'
Fallon whipped out a copy of PEOPLE featuring Rudd on the cover.
"Don't believe everything you read," Rudd quipped.
"When we announced it on our show," Fallon said, "the audience went nuts because everyone loves Paul Rudd."
Perhaps he was feeling a little left out because Ferrell jumped in and joked, "I'm totally cool with it because I turned it down."
"I called Paul. I go, 'Paul, I can't do it but something's coming your way,' " Ferrell continued, as Fallon playfully declared the moment "awkward."
Referencing the switcheroo as he went along with Ferrell's tall tale of turning down an offer to be named Sexiest Man Alive, Rudd said, "I kind of Ryan Reynolds-ed in and took it over and got the title. I showed up for Will."
"All you really good-looking actors just do that for Will when he bails on stuff," Fallon said.
"I bail … all the time," Ferrell agreed.
Then Rudd, who also costarred with Ferrell in Anchorman: The Legend of Ron Burgundy, said there's a reason super sexy men come to his rescue: "It's because we love him."