The "Downhill" actor joined Hot Ones host Sean Evans for the latest episode of the viral video series, which sees celebrities answering questions while eating wings that get spicier as they go.
"I enjoy spicy good, to an extent," Ferrell said as he sat down. "I do have a very active ulcer right now, I don't know if that will be an issue."
If 21 minutes is a little too long for you to sit through, below are a few of the highlights.
After James Corden made headlines for not always driving the car for Carpool Karaoke, Evans asked Ferrell about being a guest on Jerry Seinfeld's "Comedians in Cars Getting Coffee" series. "Jerry's actually driving and he's got the tiniest little cameras," Ferrell confirmed. "He's actually driving the car and I will have to say he's an excellent driver. He just tries to pick a car he feels is suited to your personality or reflects you in some way."
The actor revealed why he quit Twitter after just four days on the social networking site. "I was tweeting about something, promoting some charity event I was gonna do and people were like, 'That's not what Twitter is for, STOP!" he explained, "I got shouted off Twitter."
The funniest athlete he worked with on "Saturday Night Live" was "definitely Shaquille O'Neal," he revealed. "We did a sketch, you can find it online, it was cut for time but we did a sketch where ... I was in footie pajamas and the cast was picking on me and Shaq came over and shooed em all away and proceeded to sing a song called 'No One Hurts My Little Man.' It was very bizarre."
Bringing up how Ferrell has eaten both maple syrup spaghetti for "Elf" and a reindeer eyeball while on Bear Grylls' "Man vs. Grylls," Evans asked which was worse. "The eyeball was slimy and gelatinous and then you crunched down on the cornea," he replied without hesitating. "There's no question. Little maple syrup on spaghetti, who cares? Reindeer eyeball, 20 miles north of the Arctic circle, not good."
Ferrell still has his prosthetic testicles from "Step Brothers" and considers them his most prized possessions. "I keep them in a little trophy case," he said, "like you'd put a signed baseball."
While filming "Old School," Will got naked in front of Snoop Dogg. While there were stories out there that he needed "liquid courage" for the scene, he told Evans that wasn't the case. "I actually didn't. But in between takes it took so long to get Snoop Dogg out of his trailer as he was smoking and playing video games that out of boredom I just started drinking," he said.
"Anchorman" almost had a completely different storyline. This is something Ferrell's talked about in the past, but always interesting to anyone who maybe hasn't heard it already. "It was going to be a movie about newsmen, meets the movie 'Alive' where they have to survive in the mountains," he explained. "It was all about trying to survive and get down the mountain while being stalked by chimpanzees with Chinese throwing stars. Needless to say, Hollywood said no."
The video ended with him telling his "Downhill" costar Julia Louis Dreyfus -- who bailed on Hot Ones because she was feeling under the weather -- "you're so happy you're not doing this."