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Standing around, wasting time or otherwise not attending to responsibilities at hand. Holding D alludes to holding the male member, or dick.
"Quit holding D and wash the dishes." "Hey, since you're not doing anything, why don't you stand between the two of us, hold our Ds and pretend that you're skiing." "Drop your D and pick up your hooves. We've got S to do."
by Der Künstler January 16, 2006