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1. Dick Towel
A towel, which you can purchase at dicktowel.com, that allows you to cover up, while jokingly exposing drawings of your private parts. One end of the towel has a large penis and the other end of the towel has a tiny penis, the smallest some have ever seen.

Dick Towel is proven to get you laid.
"Hey Dude, how'd you manage to bang Beth?"

"I was at the pool, and she totally wanted to bang me after I showed her the large bird on my Dick Towel."
2. dick towel
Using someone's hair on top of their head to wipe one's dick off after having sex.
He used Mary as a dick towel after finishing in the bedroom.
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