I tried to invoke this when I first got my glasses. Since I was only nearsighted on one eye, I was asked to choose between one contact lens and glasses. I didn't want contacts but didn't want to pay for the half of the glasses I didn't need, and thus suggested a monocle instead. My optician laughed. I don't think he realised I was serious.

This troper and her brother like to, when we joke around and act all serious in FakeBrit accents, pretend to adjust a monocle. My brother takes it one step further--making a circle with his forefinger and thumb, and holding it over his eye. ...actually, it kinda ruins the effect.