1. Performing cunnilingus on a girl
2. Helping finish someone's breakfast.
This phase can be heard at a small diner that serves breakfast by a friendly waitress who does not get sexual innuendo.
While two people are sitting at a diner finishing their breakfast, the waitress notices the party is mostly done with their food. She walks over and asks the male in the party "do you want to munch on her waffle?" in reference to the sliver of waffle left on the female's plate.
This is followed by uncontrollable under- your-breath little-school-girl giggling and subsequent urbandictionary.com entry.