A. To have an excessively large penis, most notably in length.
B. In playing beer pong, to set your cups up in a "schafer" means that you want your cups to be re-arranged in a straight line. To be reffered to as a "shafer" means that it must be four or more cups lined up in a straight line.
Person A: "Hey man, did you hear about Dan? He's got a shafer and a half!"
Person B: "Chyeaaa bro he does! I swear that it's gotta be atleast 8 inches!"
Person A: "Yo bro, can you set up my cups in a schafer?"
Person B: "Sure bro!"