Colbert: I sent Huntsman 'back to the Lands' End catalog'

Days after announcing his exploratory committee for president, Stephen Colbert said Monday evening that he's already making a huge impact in the Republican race.

"That announcement has completely changed the complexion of this race," he said. "It has gone from linen to egg shell. The mere possibly that I might run for president blew Jon Huntsman all the way back to the Lands' End catalog he came from."

Fully convinced that a wave of momentum is behind, Colbert teased the audience with another possible bombshell.

"Can you imagine what it would do to the field if I, Stephen T. Colbert, looked into the camera, right now, and officially announce......but I'm not," he said.

Reports from campaign insiders surfaced in recent days suggesting that Huntsman was concerned and humiliated by the comparison to Colbert in South Carolina, indicating that played a factor in quitting the race. However, his campaign denied the rumors, calling them "stupid."

WATCH: Video from Comedy Central, which was broadcast on January 16, 2012.