The 2016 VMAs were a full-on fest of love (Rihanna & Drake = swoon & eye-rolls), burns (poor Taylor Swift) and, of course, must-see looks. It also gave us one of the funniest, most cringe-worthy moments when Jimmy Fallon, who apparently wasn’t in the mood to play it safe, decided to go after another risky playa. Emerging dressed as Ryan Lochte — the uniform, the medal, the HAIR! — it was more than clear who Fallon was targeting. And while the crowd prepped for the takedown, one person in the seats, namely Michael Phelps, was lo-ving it!

Jimmy Fallon as Ryan Lochte _ 2016 VMAs

“Who had the best video of the year? I can’t tell you that. They’re all so great and so talented, I could never choose. I couldn’t tell you even if there was a gun to my head,” Jimmy started, causing plenty of laughs from the crowd as Fallon referenced Lochte’s apparent penchant for lying (at least in one particular urination and uber-lie criminal offence). “I directed all five nominees. What an amazing year I’ve had! I taught Drake the ‘Hotline Bling’ dance. I made Lemonade with Queen Bey.” Liar, liar, pants on fire and the audience was LIT AF.

Michael Phelps and Nicole Johnson

Phelps, Lochte’s Olympic swimming teammate and sometimes competitor, may have felt awkward or defensive while Ryan was being so publicly roasted, but nope. If his reaction was any indication, he thought it was friggin’ hilarious.

“Oh my god,” was the very clear reaction from Michael while his fiancée, Nicole Johnson, laughed and covered her mouth with her hands. Not wanting to forget the moment, Phelps was also recording the entire thing on his phone.

Gotta wonder if Ryan Lochte was watching.

What did you think about Jimmy’s Ryan Lochte impression and Michael’s reaction to it? Tweet us @BritandCo!

(Photos via Jason Kempin, Jamie McCarthy/Getty)