1. The appearance of breasts created by holding one's scrotum tightly against one's penis shaft, so that the testicles appear as the aforementioned breasts, with the head of the penis as the head of a tiny woman. Works best if the penis is both circumcised and shaved. However, a hairy penis and/or ballsack can give the hilarious impression of a busty gorilla.
2. An angry interjection used to express frustration.
3. An insult implying stupidity or annoyance.
1. Person 1: "Hey dude, check out these huge dicktits!"
Person 2: "You're a fag
2. "Fucking dicktits! I hit my goddamn thumb with this hammer
3. "Stop being such a fucking dicktit, you goddamn assmunching cheesedick moron