I would like a site called [url removed, login to view] (I just purchased it off GoDaddy) that's kind of like [url removed, login to view], where I can share with friends, etc. There would be an open text box when you go to the home page/after you've logged in, that says:
Enter something (word, phrase, name of your pet) you'd like to be euphemized.
Then you can click on "Share" so that you can share with your friends via email and allow people to post the answer on the website, as well as on facebook and/or twitter. (Much in the same style as [url removed, login to view]). Make the interface simple and easy to use, because there is just one place where someone has to enter the phrase to be euphemized, and a field where commenters can suggest euphemisms.
Use [url removed, login to view] and [url removed, login to view] as inspiration for simplicity and website design/interface.
There would be a mobile app (iPhone app) that would do the same.