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1.
This definition is the true definition and the others are misinformed.

Pwank, pwanking, pwanker, pwanked, pwanks.

To pwank or pwanking consists of masterbation whilst having a poo. The ultimate release. Both the prostate and the penis are stimulated simultaneously so that ejaculation is highly likely. This act lasts a matter of a few minutes, any longer than 10 minutes and it tends to arouse suspicion amongst your peers.

The origin of this term is unknown, but can be seen in popular literature as early as 1998.
John was in the bathroom pwanking for so long that I had to slash in the garden.

I couldn't pwank at someone else's house- it's just not right.

Your girlfriend loved watching me pwank- she's nasty mate
by Stants June 02, 2010
 
2.
Derived from a British term for masturbation, a wank, a pwank can be used to describe a male that masturbates like a porn star.

The act usually consists of a man standing over a female, penis in hand, ready to shoot his gentleman gel all over her contorted face. The act of pwanking is when the male can't go for the entirety of the act without being overly expressive.

Pwanking can consist of a number of acts:
1. The male getting off over calling the woman all the profanities he can think of.
2. Groaning for the neighbours to hear.
3. Reveling in the moment to the extent that the woman thinks he has a buddy in the closet who will come out and high five him at any given moment.

Pwanking originates from porn movies. Much like other events that take place in the average film, pwanking was thought not to exist away from the camera. The emergence of porn spin-offs of the popular site YouTube gave rise to amateurs and their emergence into the world of pwanking.

The word does not incorporate the act of ejaculation. In this instance the person can be forgiven for getting lost in the moment.
1. James confirmed that he had paid for a pwank over the corner-hanging skank.

2. Mr Levy wasn't sure how to answer his 6-year-old son's inquiry about pwanks. To Mr Levy's relief, he remembered that it was April 1st and realized that his little trouper had instead been asking about pranks.

3. The lustful secretary fell to her knees and waited for Mr Boss to pwank over her face.
by OwwwIfeelgoodduhduhduhduhduh January 28, 2008
 
3.
1)A comical sound often heard when gas is passed.

2)The sound of someone hitting, dropping, or smashing a gooey object.
*Pwank* "Excuse me, I passed gas.Please don't die."

Ryan's fist went *pwank* as he sunk his fist into the fat burglar.
by Grobyk June 24, 2004
 
4.
The act of having a piss and a wank at the same time. They say it's impossible, but maybe one day a man will achieve it ...
"Dude, last night, I totally had a pwank!"
"What the fuck man?! You had a pwank?! HOW?!"
by wargrider21 February 09, 2010