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1.
The manifestation of a loose hanging sack precipitated by a warm, humid environment. Such genitals will settle onto any surface as if a melted semi-viscous liquid.

Syn: "the over-easy", "curtain-sack", "rooster waddle" or "man-drape"
Billy was seated at the bench press when Jan caught an unfortunate glimpse at his puddlenuts.
by Sir Heavypants February 24, 2009
 
2.
An insult, referring to a person so limited in their height that their testicles drag along the ground when walking. It refers further to a specific instance of said 'Puddlenuts' walking through a puddle, their sack dragging through a puddle, and shooting into their mouth.
Dave-"I can't see over your head, jerk!"

Chris-"Wouldn't be an issue if you weren't such a puddlenuts"
by sixstring3r September 15, 2009