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1.
The act of sexual contact between two or more people involving the genitalia of at least one person.

Etymology: "Bounce" refers to the rebounding of the bed that occurs during heated sexual intercourse, "and" means to include or to add, and "giggle" refers to the sound one may potentially make resulting from pleasure or pity.
"I'm gonna give her the old bounce and giggle!"

"I sure hope I get a little bounce and giggle tonight!"
by The Great and Powerful Naz February 10, 2009