Village People Threaten to Sue Jim Jefferies for Saying 'Y.M.C.A.' Is About Gay Sex

Jim Jefferies could be dragged into court by a cop -- correction, The Cop from the Village People -- all because Jim referred to "Y.M.C.A." as a gay anthem ... TMZ has learned.

The comedian received a cease and desist letter from Victor Willis' wife Karen Willis -- who also manages the VP lead singer -- and, the letter rips Jim for his "obscene, derogatory and false description" of the hit song ... in their eyes, at least.

Last month, while doing his 'At This Moment' podcast, Jim bluntly delivered his interpretation of "Y.M.C.A." -- "It's f***ing in showers in a hostel. Right? When you're a young man who's been kicked out of your home, there's a place you can go," paraphrasing that last part from a verse in the song.

Jim and his co-host Amos Gill went even further, calling out the irony of conservatives singing along and dancing to the song at President Trump's rallies. However, Victor doesn't see a drop of irony, because as Karen puts it, "That is not the actual meaning of his lyrics, nor is there anywhere in the lyrics that would even remotely suggest such."

Victor and his wife/manager are giving Jim until Feb. 17 to retract his "false and defamatory meaning" of the song, or they'll launch a lawsuit against him and his co-host.

Jim clearly heard their threat loud and clear -- we're told he plans to issue an apology, but ya gotta think this won't be the last time this comes up.