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1.
The webbing found in swim trunks that keeps your junk from flopping out and scaring kids.
"Look at the weird patterns on his sack! His junknet must be too tight!" ~Oscar Wilde

"Last time I wore shorts without a junknet, I was kicked out of Darien Lake and was asked never to return." ~Gary Busey

"His entire wardrobe is made of nothing but junknet! Even his fucking shirts!" ~David Bowie on Freddie Mercury
by Legero June 21, 2010
 
2.
n. Slang

1: the internet 2: any internet content that is an utter waste of one's time or potential productivity -- reminiscent of the 'boob tube' or 'junk food'; used with 'the'
Get off the junknet now and do some work!

I spent all morning on the junknet just checking status updates and watching funny animal videos.

Oh no! I forgot to feed the baby because I was on the junknet!
by eroombob October 14, 2009