The act of wrapping the penis around the sac-region. Thus, giving off the appearance of a snake wrapped around a bush. Also, the term reflects the aggression of the penis as a snake and protecting its "two best friends" from the vagina.
"Dood, did you hear TL scared off his girlfriend by whippin' out 'Snake around the bush' ?"
"Dood yeah- she cried for like six hours."