What are you most likely to do when confronted with a clown holding a knife?

I'd say, "Sick 'em boy!" and let go of the leash!

I would counter him with a block of cheese.
You know a clown couldn't pass up cuttin' the cheese.

Leave the area. If I sense someone is going to be violent I get away from them immediately. 

I'd shoot him. No questions asked.

how about a drink of my shine

Get my phone out, take a selfie and then run for my life.

Ha ! That's not a knife ! This is a knife !

Give him my vegetables to peel and chop.

Throw the nearest most heavy thing at it and RUN to a different room or the neighbors house and lock the door and explain my situation to them. I actually have had to do this because of my sociopath brother.

Do you mean "clown" as in some random idiot, or an actual clown?

Because an actual clown - wouldn't matter if they were holding a knife or not.  I don't like 'em ... Don't wanna be near them.  I'd be going somewhere else.

Some random idiot ... It would depend on what type of knife, and what they were doing.  Any threat to someone else, and they'd be "neutralized". 

I'd probably look at him and say "really"? Roll my eyes and walk away.