Some guy had a squirrel named peanut and used it to advertise his porn making it famous.
New York took and put down the squirrel.
People like Elon/MAGA crowd and MoistCritical types lost their minds over it for some reason so it took over internet discourse for a bit in those circles.
From what I've seen, him playing with the squirrel with some very convenient camera work, and while he's clearly wearing some very supportive underwear.