No, this is not true.
See for example snopes:
> The fake mascot of the fictional organization Stop Masturbation Now is a mainstay of the fake news site NewsExaminer
>
> Despite Fappy's frequent appearances on the Internet, the mascot is a fictional character created as part of an elaborate and ongoing hoax.
Other - more or less reliable - news websites also call the mascot a hoax (partly in different contexts, but it's about the same mascot), among them Vanity Fair, Daily Mirror, Salon, or the Daily Dot.
Note also that `cbsnews.com.co` is a fake news website, which is not affiliated with CBS News in any way.