The act of defecating into a condom (optional) and freezing it. The condom filled with frozen feces is then used to penetrate a partner's oriface.
Mother: Your father fucked in my ass last night with a frozen turd.
Child: Oh, we call that the Icelandic Icepick.
When some body is going down on a guy, and right before he cums he whacks the back of their head, so that the person going down snarfs the Jizz.
When Casale goes down on Hart with his sleeping mask Hart doesn't have to worry about giving Casale an Icelandic Icepick because the nose mask will catch the Jizz.