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1.
When a girl squirts a mixture of Jizz and Shit out of her ass after being butt fucked. The mixture should look like and have the consistency of peanut butter, hence Jif.
"I fucked Sheryl in the ass and she pulled a jifkin right on my dick. I bitch slapped her and made her eat it off."

"Jifkins are sick dude."
by Simon Sanchez April 06, 2004