A sexual act involving a woman or a man melting Laffy Taffy's directly into his or her anus. The burning, cult sensation was made popular in San Francisco night clubs in the early 80's by Bar Rescue star Jon Taffer.
"Hey, lets melt some Laffy Taffy in our butts before sex. I bet it burns nice, they did it in the 80's. Its called a Laffer Taffer."
(n)This is a slang term for the female genitalia-- more specifically, the labia minora-- so termed for it's resemblance to stretched (pink) laffy taffy. Therefore, the term may also carry with it connotation of excessivesexual intercourse which can result in a stretched or elongated labia minora.