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1.
A phrase commonly used to express or inquire readiness for something about to happen.
Example 1
Person 1: Are you ready to go to the store?
Person 2: Ready Freddy!

Example 2
Person 1: I'm ready to go to the store. Ready Freddy?
Person 2: Yes, I'm ready to go.
by Ranran's Russy February 20, 2010
 
2.
when a girl gets yo dick ready to be sucked by scrubbin it with Windex
Damn, hold still while I give you a "Ready Freddy." Yo dick smells like it aint been washed in a week!
by Jim lemminin January 10, 2008