What's the meaning about"no jokes, no pants"?

I have not heard of this phrase.
I can’t wrap my head round it.

I looked it up on Urban Dictionary and there was no entry. I have never heard it either.

I wonder if it’s meant to lampoon “no justice, no peace” (NJ, NP) and play on the “wearing pants” meme. Just guessing. Context would tell a lot.

It just sounds stupid to me. I wouldn’t spend a lot of time looking for meaning there.

It’s meaningless.

It could be a lampoon of No Shirts, No, shoes, No service. From McDonald’s signs in the 80’s

I always wondered why McDonalds didn’t allow shirts, shoes, And had no service…

From the 80s? Those signs are still up today @RedDeerGuy1.

I don’t know where the phrase’s reference. Maybe it is meaningless. Thank you for your answers.(๑`･ᴗ･´๑)

No pains, no gains-
there goes a saying.
But “No jokes, no pants’ might be used for making fun, as it has no meaning at all.