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1.
To administer a blow job to a defecating garden gnome or a very short and stubby man.
I had such a wild night last night, dude, I gave mad blumpelstiltskins to the Johnson's lawn ornament, and I liked it. Needless to say, I expect that they would return the favor with a cup of sugar sometime down the road.
by Proudest Citizen November 09, 2005
 
2.
A mythical dwarf-like creature who visits a woman who has denied a man the glorious gift of the Blumpkin. During this visit, Blumpelstiltskin removes and holds ransom the urethra of the woman who denies the Blumpkin and will return the urethra upon the completion of the gift of the Blumpkin. Lesser known cousin of the famed Rumpelstiltskin.
Dude! She was totally down for giving me a Blumpkin but she shot me down. I hope Blumpelstiltskin comes and serves this bitch what she deserves.