Today’s strip uses a real location to tell a cock-and-bull story. This “cartoonist hangout” is the Palm Restaurant in New York City, a real-life location. As commenter Gerard Ploude pointed out in the comments, Tom Batiuk announced this place would be part of an upcoming story. The entrance we see Phil go into is identical to the photo Batiuk showed on his blog:

The original Palm in Manhattan has since moved a few blocks, and now has locations in about a dozen major cities. They also have a tradition of artists (not just cartoonists) drawing their works on the wall instead of paying the tab. Sadly, the original location has since been remodeled, and the drawings are gone. I hope they archived them somehow.
Kitch believes this ridiculous yarn, and Phil leans back in his chair to smirk about it. This is one of Funky Winkerbean‘s most infuriating tropes: a character congratulating himself for his wit, when he hasn’t done anything remotely witty. I say “him” and “he” because it’s always a man. Women aren’t allowed to be witty in the Funkyverse.