Comedian Eddie Ifft, who was also a guest on the podcast, responded to Williams by saying, "I feel like that's a rape story."
"Not in a technical sense," Williams laughed.
"I think technically it is," Ifft replied.
A clip of Williams' story on the 2014 podcast recently resurfaced online, prompting the comedian to release an apology.
"I didn't have any crazy stories, but I didn't want to say 'no' as this is a very popular podcast and I wanted to be funny, so I made up a story on the spot," Williams said in a statement on Twitter. "Unfortunately, the story was not funny at all.
"I want to take this opportunity to let you know that I regret what I said and apologise for the content of the story.
"It was an unfunny, horrible fabrication and the actions described in the story NEVER happened.
"My 'joke' contributed to rape culture. For that I am embarrassed and ashamed.
"I truly am deeply sorry for my words."
According to his website, Williams has appeared on a number of TV shows including Lights Out with David Spade, The Tonight Show and Jimmy Kimmel Live.
He has also released two comedy specials called Fun Size (2015) and Daddy Issues (2016).