Only if you have a yeast infection (which yes, you could get if your g/f /partner has one.
Fyi, sometimes the itching is more intense in the first few days of using the monistat.Can Monistat itch cream be use on the penis for itching?
Please clean the area with soap and water. Pat dry with clean towel (new). Put some baby powder (johnson johnson). It should stop the itch. Continue if you feel better. Stop if you feel worst.
If it itches and hurts badly, you should see a doctor. It's your baby making stick. Don't be too cheap. Without it, your life is less happy as a man. :)