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1.
The act of masterbating in another person's bed
A text message the morning after being caught sawcocking may read: "I'm really ashamed that you saw my sawcock. I'm too drunk"
by Rick cairns August 28, 2009
 
2.
Defining an event or action as a "Saw Cock" implies that said event or action is distinctly unpleasant, much like being brutally ass-raped by a large cock which has a saw structure on the lower portion.
Nick: Are you ready for this Macro final?
Mitch: Hell no, it's going to be a saw cock!
by EconPhD December 15, 2010