Choose something or someone to spoof. Your own product can work, as seen in past promotions for male enhancement merchandise. If you prefer not to make a joke out of your own product, you can poke fun at just about anything from movies to dog breeds in your quest to amuse your consumer base.
Make a caricature of the subject you're spoofing. Exaggerate small details until they're larger than life. For example, use computer graphics to give a bunny shark teeth, or make a model who looks like a professional singer croon as if she can't carry a tune. To spoof a celebrity icon, enhance physical features to nearly impossible proportions. A spoof ad is only successful when the joke is immediately identifiable.
Use as many recognizable features as possible. For example, if you're spoofing a television show, include similar characters, scenes and dialog that the fans will quickly associate with the real thing.
Create an amusing soundtrack to go with your ad. Commonly known songs, like "Happy Birthday," or a television theme song with spoofed wording are instantly recognizable to consumers.
Put it all together and give a viewing to a test audience. Use the feedback to tweak the promotion into a final ad campaign.