a brand of Entenmann's doughnut holes that really has no sexual meaning, but when said to someone who doesn't know what they are, they can't help but say, "ew. wtf?"
Also can be used as a synonym for "asshole."
Bro, I ate some delicious glazed holes for hours last night.
Dude, wtf that's disgusting.
You're such a glazed hole, Charlie Sheen.