The sexual act that takes place in "spooning" position with the woman as big spoon jerking off the man in little spoon while he reaches back to twiddle and fingerblast the woman without kissing (Simultaneously). Act is also performed standing face to face, no kissing.
If one or both parties is in a serious relationship, (for your information) a "Rick Carlo" is NOT cheating.
Girl: i was with that guy all night last night.
Friend: don't u have a serious boyfriend?
Girl: nothing happened, we just rick carlo-ed.
Friend: what?
Girl: we just did a rick carlo.
Friend: oh well thats cool then. Thats nothin.

Example 2:

Guy #1: Yo dude I saw this guy and girl doin the ol' Rick Carlo last night, I couldn't stop laughing!
Guy#2: Aww man I wish I coulda been there!
by Nooch¡! June 14, 2013
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