The story
From a sketch on the 1966-67 British satire show The Frost Report, poking fun at the television broadcasting practice of displaying images on screen to accompany spoken monologues. In the sketch, the words Lord Privy Seal in a news report are illustrated with a photo of a lord, photo of a privy (outhouse), and photo of a seal (pinniped) balancing a ball on its nose.
Etymology from Wiktionary, CC BY-SA 4.0.