1) A small piece of fabric on pants used to keep the a belt in place so it doesn't slip downwards and loosen the waist
2) A sex act where the male(s) inserts his penis into any orifice on another person's body, essentially creating his own holes
"My buddy and I gave that chick so many belt loops last night. That slut got wrecked"
Jimmy had to fix the worn and broken belt loops on his jeans so could use his belt while wearing them.