Mattel To Release "Palm Beach Sugar Daddy" Ken Doll. Yes, Really.

Playing “Madoff investors” just got a little easier thanks to Mattel’s “Palm Beach Sugar Daddy” Ken doll, which will be released in April of 2010.

For those of you who feel that the term “sugar daddy” is offensive: Mattel says you’ve got it all wrong. The doll’s dog is called “Sugar.” Ken is his “daddy.” Now don’t you feel silly?

“The ‘Palm Beach Sugar Daddy Ken’ is actually part of the adult Barbie Collector Line,” a spokesperson told the New York Post. “It is targeted toward adults.”

“The little dog’s name is actually Sugar,” she said. “That’s where the name comes from. He’s Sugar’s daddy, as a reference to the dog.”

Latest Ken putting on the dog [NYP]