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1.
It most cases this may refer to a pair of balls on someone's chin. In other cases this may mean that there is dick AND balls on your chin dick in your mouth, or perhaps maybe - balls in your mouth. It really depends on which side of the the Greenwich Meridian you hear that expression. Really really common thing to hear in South Jamaica while sucking your own dick to pay the rent.
Example conversation in Vietnam:

Man 1 : - Are you going to eat that dog fries ?
Man 2: - No, thank you, I'd rather have my balls on your chin.
Man 1: - I'd rather be dangerously retarded than be your friend.
by Kurzavas November 23, 2013
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