look up any word, like darude - sandstorm:
 
1.
When a lady friend sleeps over and asks for a t-shirt, you give her one of your beastly cut off gym shirts. If done properly her breasts will protrude from the arm holes making it look like owl eyes.
I gave Ashley my gym shirt last night and she had a nice set of owl eyes.
by BC and TF May 09, 2011
 
2.
A man's testicles.
"Wow," she said, "those are some big owl eyes!"
by b2274335 December 20, 2013
 
3.
Large breasts. Because of their shape and size they look like big owl eyes. Just like the Hooters logo.
Ex 1:
Tom: Hey man shes got some big owl eyes.

Bob: Yeah man why don't you go and see if she will take them out.

Tom: Good idea bro

Ex 2:
Marissa has huge owl eyes.
by CrabBattle December 29, 2010
 
4.
A female with large eyes, not as large as doe eyes but still large eyes. Eyes that make you say who, who, is that!!!
Who Who is that, would you look at the owl eyes on her....
by doeye dan October 26, 2011
 
5.
the puckered opening of the anus.

I must credit comic Jay Mohr for his usage in one of his comedy routines on Comedy Central. I hope I got it right.
You can fool around all you want but keep your fingers away from my owleye.
by togrim November 23, 2003