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1.
To think about masturbating!
Man! I can't wait for my date tonight. I've been ponderbating about it all day long. I need some Hoo-Haw.
by Fsu Big Dawg October 03, 2010
 
2.
The act of deep-thinking, usually about the universe or life itself, that results in a great and climactic conclusion about the nature of our existence.

Can also be used lightly, to describe a mental fixation with something.
You know, I've been ponderbating all day, and I came to the conclusion that we are all of one great consciousness.

The intellectual environment of this Starbucks makes me want to ponderbate while i sip at my green tea latte.

I've been ponderbating about that vacation since May!
by ponderbating.tumblr December 28, 2011