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1.
The act of male masterbation, in which the semen flows like goo out of the tip, thus making it appear as if a volcano erupted onto ones hand. Can also be used as an insult.
"Man, I was tugging one out last night when to my demise, it ended in a hand-cano!"

Insult: " Oh man that kid Tyler? He can go hand-cano himself he's a real bitch."
by DrTeabagPHD September 19, 2010