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I heard this one many years ago. I can't remember where, though.

Three British educational institutions were commissioned by the government to
discover why the  human penis is the shaped the way it is.
Oxford University allocated a budget of #500,000 for research. After 2 years
they concluded that the reason the head of the penis is wider than the shaft
is that it fits better, when in situ, so to speak. This would prevent leakage
of semen and increase the probability of successful fertilisation.

Cambridge University spent #750,000 on a research programme that lasted 3
years. The results showed that the penis widened near the tip because it
maximised the number of nerve endings stimulated during sex. This would lead
to increased sensitivity and a better chance of impregnation.

Finally, the Open University spent #2.50 on a copy of Playboy and 10 minutes
in the staff toilet, only to discover that the penis widens at the tip in
order to prevent your hand from slipping off the end.

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