"But Michael, he's being the hot shot, Mikey D., and the guy's got a snake on his arm and all the kids are coming around. And Michael grabs the snake. I'm going, 'Michael, don't touch the snake! That's a snake, man. That snake could bite you, man.' "
But Danny says Michael - who he also starred alongside in 1985's The Jewel of the Nile, 1989's The War of the Roses and 2009's Solitary Man - replied: "Oh no, no Danny, it's no big deal."
Speaking on The Talk, he added: "Then the snake bites him on the hand, and I always heard the best thing to do is suck the poison out, right away, so I did.
"I grabbed his hand and I'm spitting all over the place, and I say, 'Boy, it's a good thing this didn't bit you on the balls man - you would be a dead man.' "
Danny previously shared a flat with Michael - who produced the star in 1975 comedy-drama One Flew Over the Cuckoo's Nest - in the 60s, and said he was always a "babe magnet".
Speaking in 2015, the Twins star said: "He's a very unassuming, very sweet guy, but a babe magnet. So anywhere he went you can guarantee there would be a bit of buzz around him. There would be ladies."