It is a way of a guy saying he is going to have rawdonkulus intercourse with the opposite gender and not perform any dirty tricks such as a phantom or ice dragon. Its is derived from The Teenage Mutant Ninja Turtles(Kowabonga which is awesome) and the drill company Double Decker add it with the word collision(intercourse) and turtle wax(symbolizes wetness. words that are ordinary alone but together mean something totally different
guy1: Some fine as chick is looking for a supafly jimmy snooker. Anyone kno who she is?
guy2: Ask dat chick if she wants a Double-Decker Kowabonga Turtle Wax Collision in her ass?