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1.
He/she pee's on a chick's chest and the receiving person drinks the urine that slides down the body and drips off the vagina.
Lad 1: "So how was the party last night?"

Lad 2: "Well, I engaged in an Israeli Waterslide."

Lad 1: "Fuck yeah, FIST BUMP."
by Jordack October 25, 2012
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