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1.
1)A party, gathering, meeting or soire` that is predominantly male;
2)A situation in which males outnumber females greatly, literally too many penises in one room and thus a sausage sizzle.
3)Any gathering of more than five people where over 50% are male.
4)A bbq, usually for fundraising purposes, at which cheap sausages are cooked and sold in bread for around $1.50
See also sausage party
"Man, there's not a single chick in this room. We're having a Sausage sizzle!"

4)"How to raise funds for Little Jimmy's chemotherapy?"
"I know, let's have a sausage sizzle!"
by Setkino September 20, 2007
 
2.
a nude beach consisting of only males
"me and jerry ganna go to the nude beach for a sausage sizzle"
by Tony Bright May 09, 2008
 
3.
refers to a girls who is surrounded by guys and flirting with them
she is doing a sausage sizzle
by Naiji June 25, 2007