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1.
The act of wrapping your dick around your wrist and then asking an unsuspecting friend if they want to buy a watch.
Jared: Hey man you wanna buy a mexican wrist watch? Travis: (Turns around unsuspectingly) Damn man it's your dick!
by Fiveash March 01, 2010
 
2.
The act of wrapping one's cock around his wrist, simulating the effect of a, as they say, "wristwatch".
What time is it? Let's look at my Mexican Wristwatch! Half past my cock!
by Mark Amato October 09, 2003