I'm late, but the joke started as a way to make fun of Tim Suttons (Tim's actor's) weight. It is basically a way to make fun of him or put him down, because by saying Masky loves cheesecake, you are, in a way, saying Masky eats too much/is fat.
I came up with the name, whoooo, way back when. I must've been in that edgy teen phase. I'm actually coming up with a character based on this online profile, and might even come up with a full-on series or something.