Could refer to;
a pickle shaped like a dick
a dick that has been pickled (unlikely)
a person who you want to call a dick pickle
Originated at a restaurant when the cook intentionally served my table a platter with a pickle shaved like a dick.
"I don't want to eat that, it looks like a dickle."
"Shut up sloot, you love the dickle."
"...then she took off her shirt. I was expecting to see a couple of things erect, but I was surprised to see dickles!"
"Are those pens in your shirt pockets, or are you happy to see me?"