To give one another The Cold is to have the male/males jizz into their partners nostrils so that it runs down and gives the appearance of a runny nose, thus giving them The Cold. In some cases guys take 'giving the cold' to heightened extremes. In stead of receiving the normal pleasure they just look to it as spreading as much cold as they can, tagging women every chance they get. It is frowned upon in most states because the cold has spread too rapidly.
Guy1. Bro did you finally give susy the cold last night? Guy2. Yeah bro, she got a full blast of the cold.