Every year the Washington Post holds a contest where you take a word,
add/subtract/change one letter, and come up with a new word. Here are some of
the entries:

Apocalypso: day-o, daaaay-o, doomsday come and me want to go home.

Persuede: to bribe someone with fine leather accessories.

Forkplay: a lavish dinner date, in the hope of getting lucky

Calculust: figuring out how much to pay for forkplay.

Nominatrix: the person who names all the S&M gear

Origasmi: sex so good, you fold in half

Masturpiece: the best porno film

Frognostication: when you can predict the future and also turn people to toads

Pestidigitation: making bugs disappear like magic

Philaunderer: someone who hops from bed to bed but always washes the sheets

Guiltar: a musical instrument whose strings are pulled by your mother.

Whorde: an army of prostitutes

Errorist: someone who blows himself up purely by accident

Fundead: when the life has gone out of the party, but it's still going

Palindromeo: a seducer who swings both ways