A vagina that is having a herpes outbreak while also on it's period. The term "lava" is used because it looks like a volcano. The term "waffle" is from the term "blue waffle."
Sawyer: Dude! Guess what?!?
Kip: What?
Sawyer: I would of had sex with your mom last night, but she had a Lava Waffle!
Kip: What?
Sawyer: I would of had sex with your mom last night, but she had a Lava Waffle!
by Fetish King February 18, 2011