A "Yankee" is a noun relating to handjobs or other sexual acts involving a tugging motion on the genitalia; however, it can be altered to create a verb.
A yankee in the noun sense is synonymous with the word handjob. It also could be used to refer to one of gives "yankees" or "handjobs" on a regular basis.
One could use alterations of the word to create a verb, e.g.: "yank," "yanked," or even "yankee'd."
Yeah man, she gave me a nice yankee the other night.