1. The act of eating a measly 3 waffles by choice, and because of portion control.
2. A person who often finds themselves on the business end of a a difficult situation commonly referred to as a "waffle." Only they have 3 issues, related to each other or not.
Man walks into a bar. Man gets slightly drunk and decides to pick a fight with a motorcycle guy. Well Man is now in a waffle, fighting someone twice his size. The motorcycle man of course decides to call 2 buddies to corner Man outside.
Civilian: "Oh poor guy is gonna get a triple beating"
By-standard: "Damn, thats a triple waffle right there"