Pulling your dick is when you exaggerate statements.
Make your john seem longer then it is. Much like the big fish story.
You can also use this phrase for replies. "Bro, you really need to stop pulling your dick."
Inexpensiveness; Cheap; Not high in price.
If you, perhaps, believe this is phrase to be racist, you have no right to criticize or vote poorly. This phrase is not intended to be racist and should not be treat as such.
Furthermore, white power!
White guy: Oy, this shirt is fucking cheap.
Black, homeless, math illiterate guy: Yeah, dawg! Five dollars, dat shit simple math.