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1.
1.) A more polite name given to a whore or slut. A Boner bandit has sex with many people thus metaphorically taking their boners.
2.) A crazy person who literally cuts of people's boners.
Scott: Dude, I totally have a date with Jessica on Friday.
Adam: Dude, Jessica's a total boner bandit.
Scott: Wait what?
Adam: She's a slut dude. She'll steal your boner and make you feel bad about yourself.
by ThisisTubbs January 10, 2011