1. Washed-rind bandaged goat cheddar with a caramelized, nutty flavor.
2. A penis that has been taped shut, usually because no condom is available at the time. Not advisable, as duck tape and similar products often do not stretch to the extent that would be necessary to prevent the skin from ripping whilst still blocking semen from leaking through the tape.
1. I tasted bandaged billy for the first time when I paid a visit to the local deli shop yesterday. Love the taste!
2. Neither John nor Mary had a condom with them, but they really wanted to go at it. They found some fabric tape, though, so it was time for doing the bandaged billy.