"It’s an old expression, and I’m going to have to cut Obama some slack on that one," Huckabee said on Fox News Channel. "I do not think he was referring to Sarah Palin; he didn’t reference her. If you take the two soundbites together, it may sound like it. But I’ve been a guy at the podium many times, and you say something that's maybe a part of an old joke and then somebody ties it in. So, I’m going to have to cut him slack."
And the Obama camp pointed out that McCain used the same phrase while criticizing Clinton's healthcare plan as the same as the one she pushed as first lady. "I think they put some lipstick on a pig, but it's still a pig," he said of her proposal.
At a February 2007 news conference on Iraq war strategy, McCain said, "It gets down to whether you support what’s being done in this new strategy or you don’t. You can put lipstick on a pig. It’s still a pig in my view.”
Smear or playing 'gender card?' - 2008 Presidential Campaign Blog - Political Intelligence - Boston.com