1. A phrase ordinarily used to refer to either the neighbour watching, or potentially watching, your sexual activities. The concept is usually phrased as a joke when you and your partner are having sex in a revealing area, such as a backyard verandah or with the blinds open.
2. Said as a joke, usually accompanied by a sexual gesture (i.e. a slap on the ass or imitating fingering your partner with two fingers), when wanting to fuck your partner in an area where the neighbour could see.
#1 - (said in backyard) Aww baby, i want to bury my balls in your ass!
#2 - Hahahaha - Mrs Smith!!!