1)A condition experienced when your underwear rides up the crack of you ass. Giving someone a snuggie by pulling on the waistband of their underwear is a favorite schoolyard prank of latent homosexuals posing as bullys.
2) A blanket with arms sold on TV by morons that didn't know they were basically calling their product a wedgie. The names they rejected were the hot carl, the Cleveland steamer, and the Alabama hot pocket.
"Hey man this commercial just told me to give my grandmother a snuggie for christmas"
"Yeah then you can give your dad a Cincinatti bowtie. "