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A rag used for cleaning up the sperm that is emitted through masturbation.
This word may also be used as an insult,relates to TOSSER.
Commonly used in male teenage circles,possibly originating in 1980's.
"I've shot off and haven't got a TOSSRAG.I'll have to use this old sock"
tossrag by Mugwump November 11, 2004
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being a wanker.. another word (of the countless already) for being a wanker/ dickhead
ted is acting like a tossbag
tossbag by Gerard January 2, 2005
Related Words
A sensual massage followed by a happy ending performed by the masseuse.
A combination of a massage followed by a Toss-off. = tossage
Tossage by TRY February 20, 2007
Nav is such a tossbag for not calling her!
tossbag by Kitty January 2, 2005

toss rag 

like a sock covered in cum. Good for insulting any old twat that pisses you off ! swiflty followed buy another top notch insult .
Ross: " Did you know, I'm colourblind but only to synthetic colours ! "
Matt: " Oh, your such a toss rag ! Go fuck your dinosaur whore of a mum ! "
toss rag by matt w & ross September 7, 2008

Sausage Tossage 

Copious amounts of semen.
Michael Cantrell sits in his office all day eating his own sausage tossage.
Great, Holy, Sexy, God.
You are so Tossbag! <3333
Tossbag by Joshyyyyyyyyyyyyyy December 29, 2007