The situation of having a smelly penis. for any reason possible, the male ends up with a unpleasent aroma on his penis and therefore has a "stinky winky"
Guy# 1: dude, i fucked this one chick in the ass, she forgot to wipe.
Guy# 2: o man, you got owned, you and your stinky winky
Guy# 1: so, at least it wasnt as bad as when i did your mom, that shit needs some raid
Guy# 2: well im not the one going around getting my pecker all raunchy, so stfu
adj. an endearing term to describe one smelling funny without the smell
come here stinky winky!
you're so stinky winky.