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An idiot. Generally a fratty kind of person who wears only Lacoste, Polo, Vineyard Vines and New Balance. The name comes from the relative size of their penis.
"Look at that squirrel boner over there trying to get in her pants!"
"He'll never make it. She wants a real man, not a squirrel boner."
by Puchley September 12, 2008