Michael Douglas -- Hey, Matt Damon ... Give Me a Hand With My Giant ...

Michael Douglas

Matt Damon, Give Me a Hand

With My Giant ...


092213_emmy_douglas_launch

And the Emmy for Outstanding Use of Sexual Innuendo goes to ... Michael Douglas ... who whipped out a penis joke, and a gay sex reference during his acceptance speech.

Douglas won the trophy for his role as Liberace in "Behind the Candelabra" ... which co-starred Matt Damon as Lib's lover, Scott Thorson.


As he held up the Emmy statue, Douglas motioned to Matt, and said ... "You were magnificent. You really deserve half of this. So, do you want the bottom or the top?"


The crowd loved it. Check the clip for Michael's double entendre about his penis size.


Also interesting: Michael's still wearing his wedding ring ... and even thanked Catherine Zeta-Jones.