K-Y Jelly is a water-based, water-soluble  personal lubricant

Personal lubricant

Personal lubricants are specialized lubricants to reduce friction between body parts, or between body parts and other objects...

 produced by Johnson & Johnson

Johnson & Johnson

Johnson & Johnson is an American multinational pharmaceutical, medical devices and consumer packaged goods manufacturer founded in 1886. Its common stock is a component of the Dow Jones Industrial Average and the company is listed among the Fortune 500....

. According to the company, "The origins of the brand name 'K-Y' are unknown. Two popular hypotheses are that it was created in Kentucky, hence 'K-Y', or that the letters represent the key ingredients used to make the lubricant, neither of which are proven."
Introduced in January 1904 by pharmaceutical and suture maker Van Horn & Sawtell of New York City

New York City

New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...

,
and later acquired by Johnson & Johnson, K-Y Jelly's original stated purpose was as a surgical lubricant

Surgical lubricant

Surgical lubricants are substances used by health care providers to provide lubrication and lessen discomfort to the patient during certain medical/surgical procedures such vagina examinations or per rectal examination)....

, and it was often chosen by doctors because of its natural base.