I haven't seen more of the show but I imagine this is a world of knives that "cut like a knife!" and which when heated cut through butter like "a hot knife through butter!"
Since then I feel like I've seen more of this, the similsame, where a simile is contrasted with its object.
The similsame's counterpart is the unpun. I've witnessed attempts even closer than this but here the surprise rests on "used" being both a state of ownership relfecting prior use and a state of usage.