Jimmy Fallon, Stephen Colbert ridicule President Trump, his 'Fake News Awards'

President Trump announced via Twitter last week that the "Fake News Awards" would be held Wednesday, but Jimmy Fallon and Stephen Colbert clearly couldn't wait.

On Tuesday, both late-night hosts had some fun envisioning what Trump's first awards ceremony might look like.

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The Tonight Show Starring Jimmy Fallon

NBC's late-night program went "live from the Trump Hotel" in our nation's capital for The Fake News Awards, hosted by Fallon dressed as the Commander in Chief.

In the NSFW clip, Fallon's Trump announced the recipient of his custom statuettes, which resembled looked Oscar trophies except they were topped off with Trump's head.

The honor of "fakest cable news network" went to CNN, the only nominee. To hand out the award for "most failing-est newspaper, Faux-Trump got help from the "first lady" (Gina Gershon) and "Secretary of Education Betsy DeVos" (Rachel Dratch).

See how the "first annual" awards ceremony went in the clip above.

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The Late Show with Stephen Colbert

Colbert and crew decided they wanted to present "even fakier awards that President Trump has awarded himself."

Honors include "the greatest jobs president that God ever created" and "the best thing that ever happened to the Secret Service."

See more in the video above.

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