According to Disney, the line is "Good kitty, take off and go" and is spoken by Aladdin. Due to the tiger growling and the music in the background, the sound is ambiguous and can be construed however the listener prefers.
Almost all off the supposed nasty sexual images in Disney movies follow this same pattern: A messy image/sound with lots of distortion which can be construed in multiple ways. Once the brain has an interpretation for an ambiguous sound/image, it's very hard to hear it any other way. This is amply demonstrated by the Mondegreen phenomenon.