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Derived from true Glasgwegian(Glasgow, Scotland)a mouldy axewound is a term used so as to describe the pitiful or shameful state of a persons arse. For example an arse crack in this sense is refered to as axewound simply due to the manner in which it is shaped like an axewound. The "mouldy" describes a harful image of an uncleaned or unwiped arse crack.
Check the nick of yer mouldy axewound.
by niko_05 June 03, 2006