I don't know why they thought this would be appealing.

If you're wondering what they could possibly mean, it's a reference to a famous Stetson ad. A cowboy was giving his horse a drink from his hat, with the line "the last drop from his STETSON" at the bottom.

Here we have red-nosed men in tuxes making fools of themselves in front of a woman who doesn't care, and frankly is disgusted by the entire spectacle.