Bad managers play this game all the time. It involves a lot of elbows and knees.
A contest where a telephone pole is suspended horizontally above water. Contestants must navigate the length of the pole to capture the flag attached at the end.
See: http://www.stpetersfiesta.org/greasypole.html
Greasing the pole usually results in a term known as "getting the shaft". This is to be avoided if possible.