Cramer later discussed the feud with CNBC's "Morning Joe" anchor Joe Scarborough, who came to his defense. "Maybe Jon Stewart can tell us what the markets are going to do over the next 10 years," Scarborough suggested.
Stewart shot back Tuesday night with a scathing 10-minute rant in which he called Cramer "Mr. Creamer."
"You don't have to make comedians sound like a venereal disease," Stewart cracked. "And 'variety show?' What? They make me sound like some kind of buffoon, just flapping my arms with crazy buttons and wacky sound effects!"
Stewart then cut to video of Cramer doing just that, pressing his trademark silly sound effects while working himself into a tizzy over rapid-fire stock picks.
"I don't know what the markets are going to do," Stewart said in response to Scarborough's comments. That's why I don't make the claim to any authority. "My network doesn't have the slogan 'In Stewart we trust,'" he added, making fun of the CNBC slogan "In Cramer we trust."
Feeling picked on by the NBC network and its subsidiaries -- or the "Peacocks" as he referred to them -- Stewart decided to call on backup from Viacom, which owns the Comedy Channel, MTV and Nickelodeon.
Stewart appears in a video mash-up with Dora the Explorer and her sidekick Boots in which the animated monkey asks Stewart if he want him to throw feces on Cramer and Scarborough and Dora calls Cramer a "pendejo" -- Spanish for jackass.
Daly called this latest volley the "battle of the brands. This is a metaphor for who's you know what is bigger."
"This is really Jon Stewart at his best," Daly said, adding he couldn't wait to watch tonight's show.
Cramer, on the other hand, seemed to be taking the attacks more personally. "The reason why it's been so hard for me, the attacks, is that early on I patterned my show off of his, which is that you can do an entertainment business show. And then to be suddenly attacked by a guy that's your idol makes it difficult."