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2.
To fantasize about good food while eating crappy food. Similar to masturbating in that you are fantasizing.
"Did you see that Dominos Pizza commercial? Ooooooh I want Pizza now. Too bad I am broke. I guess I will eat toast and fooderbate about Pizza."

by Canucklehead March 30, 2006
 
1.
Eating something boring and fantasizing that it is actually something good. similar to masturbating but involving food and non-sexual
Last night I wanted Pizza so bad but I was broke and only had a loaf of bread so I fooderbated about Pizza while I ate boring toast.

I fooderbate about lobster all the time.

by Canucks Fan March 17, 2006