There is a long history of insects being used for aphrodisiac purposes; the list is long enough to fill two pages of this journal. Usually the insects are ground into a powder, mixed with oil, and then applied to the appropriate area with "brisk rubbing." That methodology perhaps explains why a belief that insects can magically revive a limp caterpillar dates back centuries.
Nearly all traditional impotence remedies fall flat, though a few of them are dangerous. Trust me on this, you REALLY don't want to take spanish fly.
Insect herbal remedies are still popularly sold today, usually as unregulated "supplements." Taking them is still a bad idea. In May, the FDA recalled an herbal ant erectile dysfunction remedy. Um, a remedy for people with ED, not ants.
Are there any actual black ants in these supplements? I don't know, but some versions of the package contain this promise: "African Black Ant Improve sexual energy Powerful effect on the male libido."
Supplements to firm up personal shortcomings are withdrawn weekly by the FDA; here's a link to the list for the last few months of fraudulent ED product recalls. Dietary supplement manufacturers do not need FDA approval. It's the company’s responsibility to make sure products are safe and that any marketing claims they make are true. The FDA does not become involved until after a report is made of harm or contamination. If you suspect a dietary supplement sold online or in a local store may be illegal, FDA urges you to report that information online.
If you have ED, and many men do, you can still have a satisfying sex life. I encourage you to talk to your doctor, rather than consuming unregulated supplements.
