The three convened alongside Cristin Milioti on Monday night's episode of The Late Late Show during which Corden implored Dr. Phil to explain West's bizarre behavior.
"As a professional, what do you think's wrong with him?" Corden joked.
"Does it really take a professional?" McGraw replied. "You can't be wrong that many times in a row unless you're working at it."
Bow Wow stepped in in defense of the "Ultralight Beam" singer, saying his over-enthusiasm is a product of his being "just an artist who's very, very passionate...in what he does."
"I just think we're dealing with a artist who is very passionate, who believes in what he does, but he just might go about it in a different way," he continued.
After Corden suggested West appear on the hit show Shark Tank in order to receive the investment funds he is reportedly asking for from millionaires and billionaires, Dr. Phil stepped in to blame the issue on narcissism and social media.
"Everybody thinks stuff sometimes; you'll think of something really stupid, but we're in a society now, we're in a generation now, where everybody thinks you got to have an audience for everything," he said.