1. A liquid like substance applied to thee male organ
2. A greasy slimy substance used to masterbate
3. Perspiration from the male organ
Dude it smells like dick grease in this joint.
Honey i don't like that position, you get your dick grease all over me.
A slut or whore. This definition is derived from the lubrication provided by the vagina.
Jose: Did you bang that ho from the party last night?
Derik: Yeah, that dick grease was good stuff!