A nightclub, bar or a part of town that used to be famous for being overabundant with good-looking women, but is now just full of sexually frustrated men looking out for said women.
Obviously it's a play on the name of a famous muscle car (the Pontiac Bonneville) though it refers to neither muscle nor car, but a very stiff erection that steers its owner wherever it wants to go (to a nice warm parking garage of course).
When a woman goes into a public bathroom pulls down her pants and explodes feces all over the stall while plugging the toilet bowl with toilet tissue and escaping before anyone knows her identity.
Immediately after the intro of the Victoria Secret Fashion Show featuring Marisa Miller, Alessandra Ambrosio, Heidi Klum and other thorough-bred dime pieces in hardly any clothing, a commercial of an overweight Elvis is aired. Ew...Bonerkill.