You're close! I believe you're thinking of G.O.B. in the season two episode "Afternoon Delight". He begins wearing his father's suits and continually raises its value. He says "I want to spill booze all over my fu // cking $6,300 suit. Come on!" which is split between two scenes. Here's a video:
There are a few jokes about the c-word.
In the season one episode "Beef Consommé" Tobias calls Lindsay a country music loving lady:
In the season two episode "The One Where They Build a House" G.O.B. wants to buy a yacht named The Seaward. Michael tells him to "get rid of the Seaward" and Lucille replies "I'll leave when I'm good and ready:
In the season three finale we see G.O.B. on his yacht, named The C-Word:
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