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Thanks for your replies in advance.
As for monetizing a Sarah Palin-themed site, I would start by researching the visitor demographics and intent. Once you do your homework you can start researching what your audience may be interested in. Microsoft Adlab has some pretty nice tools for this.
I'm not sure how I would go about monetizing it as there are not any affiliate programs that I think would be available. Or at least I've never heard of them and don't think adsense would be profitable for the Sara Palin type of example. Maybe if they have CPA offers or opinion polls that are some what related this could be possible, I guess.
I'm a beginner in Internet Marketing and I know how to get Highly targeted traffic but the problem is getting the volume of highly targeted traffic that I want.
I am mostly marketing the the "make money online" niche, however I was wondering if there was a way to maybe funnel traffic that is not targeted to that niche or if it would even convert for that matter. Sort of like a bait and switch, if you will. Again, I will have to use the tool that you suggested. I can see now how this could be useful.