Here's the text explaining the Snopes reasoning so that you don't have to visit the site cited unless you want to:

"Origins:   This item is "false" in the sense that the accompanying text does not correspond to the image:

    * The message reproduced above was not written or published by CBS news or any other news agency. (The poor writing, non-news format, and focus on "gross out" details mark it as a fabrication.)

    * The annual USAPL Pennsylvania State Powerlifting Championship contests are held early in the year (February or March), not in November.

    * No such injury as the one described occurred to any weight lifter at the Pennsylvania State Powerlifting Championships in the last several years.

    * The "weight lifter" in the photograph is posed squatting immediately in front of a doorway or wall, which would not be the case if had suffered an injury in the midst of a powerlifting match and then found himself "not able to move from the squat position." (He'd be in the middle of an arena or gymnasium floor with plenty of room on all sides.)

Although a prolapsed rectum or bowel is a real medical condition, the text cited here is an obvious attempt at a "gross out" piece involving all the familiar aspects of potty humor (e.g., rectums, sprayed fecal matter, farts). How and why the image accompanying the text was produced (and by whom) is still unknown to us."