When a poor male (or female) hamster is taken and used for masturbation purposes by violating it in the rectum and then cupping its body in one's hands while tossing it until orgasm is obtained.
A variation on the wankster is performed by turning the hamster inside out (usually once the hamster is deceased) and then using it as described above. This creates a 'nice' furry sensation around the penis.
Warning: Both of these methods of masturbation may hurt the hamster and a hamster should never be used for protection during vaginal or anal intercourse.
'Yo man, pass me the hamster, I could do with a wankster'
'I tried to use a hamster on her but she said she may still get pregnant'
'That hamster looks like road kill. I think we both know what should be done with it'