He appeared in a short segment on the show that also features Philly's own Roots Crew.
A full-uniformed Iggy played the President alongside a guy playing the role of former General Motors head Rick Wagoner. In the sketch Iggy rejected the shot of the Wagoner-wannabe -- just like Obama rejected General Motors bailout plan.
Confusing sounding, yes -- hilarious, for sure.
Check it out (and note Fallon's gaffe -- Even with Elton Brand on the mend Iggy is a small forward not a power forward).