Here are the best bits, starting with a question from Snoop Dogg (Reddit username: Here_Comes_The_King).
Snoop: ayy Will, imma need some more cowbell on tha next album, u game?
Will: Of course! I'm absolutely game, Snoop. I've also got some beats that I want to run by you. I'm warning you now, they're not good.
edit: In fact, I just talked myself out of it. I'm not going to show them to you.
Ferrell also addressed the long-standing matter of his resemblance to Red Hot Chili Peppers drummer Chad Smith:
"It has been acknowledged many times that myself and Chad Smith, drummer for the Red Hot Chili Peppers, share a resemblance to each other. A lot of people think that it's me playing for the Red Hot Chili Peppers. But that would be an insult to Chad Smith. The truth of the matter is there is no Will Ferrell. Only Chad Smith."
Q: I heard a rumor that you were kicked out of your fraternity at USC for flooding the basement and making the pledges dress like pirates. Can you elaborate?
A: This question has come up numerous times and I almost should just lie and say that it's all true. But no, none of that happened. I'm sorry.
A: Unfortunately it was a closed set. At that point in time, the look was considered too powerful to be around so only essential crew and safety people were allowed on set. So ... I could only imagine what it was like in person.
Q: Is there any movie role, outside of comedy, that you wish you could have landed?
A: Yes. It was down to me or Tobey Maguire for Spider-Man and they harshly told me I was too fat for the suit. That having been said, every time I watch Spider-Man I still think I was the better actor for the role.
Kevin Mazur / WireImage
A: Yes, I actually ate syrup on spaghetti. Multiple takes, multiple times.
Q: What was the craziest hollywood party you've ever been to?
A: Craziest Hollywood party was probably at the house of Dave Coulier right at the height of the Full House madness. This would've been '92. I was 2 years out of college.
Q: Favorite place to eat in San Diego?
A: My favorite place to eat, but more importantly drink, in San Diego is the Blind Lady Ale House in gorgeous Normal Heights. My number 2 place to eat in San Diego is the Cinnabon at the airport.
Q: I love SNL, and was just wondering, what was your favorite skit that you were a part of? Also who was your favorite cast member to work with?
A: I will say that off the top of my head, the two favorite sketches that I was a part of had to have been the Harry Caray space show with Jeff Goldblum and, of course the cowbell sketch with Christopher Walken. My favorite cast member to work with was Julia Louis-Dreyfus.
Q: Does Mark Wahlberg smell nice?
A: Yes, it goes without saying. His scent is a pleasing combination of vanilla and leather.