The Fox News studio of The Five is no stranger to lively debates and sharp-witted banter, but in late April 2025, it became the stage for a moment of pure comedy gold. Greg Gutfeld, the 60-year-old host of Gutfeld! and co-star of The Five, had just shared the joyous news of his second child—a boy named Leo Alexander, due later in 2025—with his wife, Elena Moussa. The announcement, made during a lively segment, prompted a mix of congratulations and playful jabs from his co-hosts. But it was Jesse Watters, the 46-year-old Jesse Watters Primetime host, who stole the show with a “shocking” gift that left Gutfeld doubled over in laughter and the audience roaring. Here’s the full story of this hilarious exchange that’s got fans buzzing on social media.

A Growing Family and a Fox News Family

Gutfeld and Elena, 42, welcomed their first child, a daughter named Mira, in December 2024, marking a new chapter for the late-night host known for his acerbic humor and libertarian leanings. The couple’s announcement of their second child, Leo, came unexpectedly soon after, shared casually by Gutfeld on The Five in April 2025. “Elena’s got us planning a space-themed nursery, and I’m already teaching Mira to say ‘Leo’s gonna steal your toys,’” Gutfeld quipped, his trademark smirk in full effect. The news sparked warm reactions from co-hosts Dana Perino, Jeanine Pirro, and Katie Pavlich, who teased Gutfeld about juggling fatherhood at 60 with his demanding Fox News schedule.

Watters, however, saw an opportunity for mischief. Known for his frat-bro persona and a history of playful jabs at Gutfeld—like mocking his age or suggesting he wears a toupee—Watters had been relatively quiet during the initial announcement. Fans speculated he was cooking up something big, especially given their long-running, tongue-in-cheek rivalry. The two have traded barbs for years on The Five, from Gutfeld’s “In your face” tweet after edging out Watters in 2024 cable news ratings to Watters’ retort that Gutfeld needs to work on listening. Their dynamic, a mix of camaraderie and one-upmanship, set the stage for Watters’ unforgettable gift.

The Gift That Shocked the Studio

The moment came during a The Five segment titled “One More Thing,” where hosts share personal updates or quirky stories. On April 28, 2025, Watters took the floor, grinning mischievously as he announced he had a “special gift” for Gutfeld to celebrate Leo’s impending arrival. The camera panned to Gutfeld, who raised an eyebrow, clearly bracing for a roast. “Jesse, if this is another toupee joke, I’m stealing your parking spot,” Gutfeld deadpanned, referencing Watters’ 2023 gag about his hair.

Watters, undeterred, reached under the desk and pulled out a comically oversized gift box wrapped in garish neon green paper with a giant bow. The audience chuckled as he slid it toward Gutfeld, saying, “This is for Leo, but it’s really for you, Greg. You’re gonna need it.” Gutfeld, feigning suspicion, opened the box to reveal a custom-made, bright red baby onesie emblazoned with “Future Gutfeld! Intern” in bold letters. Tucked inside was a tiny pair of sunglasses labeled “Cool Like Dad” and a mock contract for Leo to join Fox News at age 5, complete with a clause that he’d “never outshine Jesse Watters Primetime.”

The studio erupted in laughter, but it was the final item that pushed the moment into viral territory: a plush toy shaped like a toupee, with a tag reading “For Leo’s First Hairpiece, Courtesy of Uncle Jesse.” Gutfeld lost it, clutching the plush toupee and laughing so hard he nearly fell out of his chair. “Jesse, you absolute menace!” he gasped between chuckles. “This is going on Leo’s crib, and I’m telling him you’re the reason he’s bald!” Watters leaned back, smirking, as Perino jokingly scolded him for “traumatizing Leo before he’s even born.” The audience roared, and the segment ended with Gutfeld holding up the onesie, declaring, “This kid’s already got a better resume than Jesse!”

Gutfeld’s Reaction and the Viral Fallout

Gutfeld’s reaction was peak The Five—a blend of mock outrage and genuine amusement that showcased his ability to roll with Watters’ antics. He spent the next segment riffing on the gift, joking that Leo would wear the sunglasses to “out-cool Jesse’s boat shoes” and that the toupee toy would be Gus the French bulldog’s new chew toy. “Jesse thinks he’s slick, but I’m framing this contract and sending Leo to CNN just to mess with him,” Gutfeld teased, earning another wave of laughter. Watters fired back, “Good luck, Greg. Leo’s gonna watch my show instead of yours.”

The exchange lit up social media, with fans on X posting clips under #Gutfeld and #Watters. One user wrote, “Jesse’s gift to Greg had me crying laughing! That toupee toy is iconic!” Another posted, “Greg’s reaction to the ‘Future Intern’ onesie was everything. Leo’s already a star!” The moment trended briefly, amplified by Fox News’ official account sharing a highlight reel captioned, “Jesse Watters strikes again!” Fans praised the duo’s chemistry, with some calling for a spin-off show dubbed “Gutfeld vs. Watters: The Baby Chronicles.”

The gift also sparked playful speculation about Leo’s future. Some fans jokingly suggested he’d inherit Gutfeld’s wit and Watters’ charm, while others proposed Leo and Mira could co-host a Fox News kids’ show. The toupee toy, in particular, became a fan favorite, with one X user creating a mock Etsy listing for “Leo’s First Hairpiece” plushies. The moment underscored why The Five remains cable news’ top-rated show, averaging 3.3 million viewers in Q1 2025, thanks to its mix of humor and heart.

Behind the Gift: Watters’ Playful Intent

Watters’ gift was a masterclass in his brand of irreverent humor, tailored to Gutfeld’s new dad status and their ongoing rivalry. The onesie and sunglasses nodded to Gutfeld’s self-proclaimed “cool dad” persona, while the toupee toy was a cheeky callback to past jabs about Gutfeld’s hair. The mock contract, with its clause about not outshining Watters, reflected his competitive streak—his Jesse Watters Primetime at 8 p.m. averages 3.1 million viewers, just behind Gutfeld!’s 3.5 million. Yet, beneath the comedy, the gift showed Watters’ affection for his co-star, who he’s called “America’s dad” in jest.

Gutfeld, for his part, has embraced fatherhood with humor, sharing anecdotes about Mira’s “rock-hard abs” and Gus’ confusion over baby toys. His return to The Five in January 2025 after Mira’s birth included unwrapping gifts like a Misfits onesie from co-stars, and he’s hinted at Leo’s nursery featuring a spaceship mobile inspired by his love for sci-fi. Watters’ gift fit perfectly into this narrative, blending Gutfeld’s family milestones with their on-air dynamic.

A Moment That Defines The Five

The gift exchange wasn’t just a laugh—it was a snapshot of The Five’s unique appeal. The show thrives on its hosts’ ability to debate politics while poking fun at each other, creating a family-like atmosphere that resonates with viewers. Watters’ history of controversial remarks, like his 2024 comments on Kamala Harris that drew criticism, hasn’t dimmed his popularity, and Gutfeld’s savage digs, like his 2024 “In your face” tweet, only fuel their rivalry’s charm. The Leo gift moment, like Gutfeld’s earlier toupee jabs at Watters, showed their ability to keep things light even amid personal milestones.

As Gutfeld prepares for Leo’s arrival, he’s balancing Gutfeld!, The Five, and Fox Nation’s What Did I Miss?, which premiered May 12, 2025, with Kat Timpf and Jamie Lissow. Watters, meanwhile, continues to dominate at 8 p.m., celebrating milestones with his wife, Emma, and their kids, including daughter Gigi, born in 2024. The gift exchange has fans hoping for more Gutfeld-Watters antics, with some suggesting Leo’s birth could inspire another round of on-air pranks.

For now, the “Future Gutfeld! Intern” onesie and toupee toy remain a testament to Watters’ knack for shocking laughs and Gutfeld’s quick-witted response. As The Five continues to lead cable news, this viral moment reminds us why Gutfeld and Watters are Fox News’ dynamic duo—always ready to spar, laugh, and celebrate life’s big moments together.