It is a gesture meant to indicate a sexual act, wherein the first and second fingers enter a vagina, while the errant pinky plunges into the anus; hence the "shock".
"Man last night I was going down on my girl and instead of doing some muff diving I gave her the SHOCKER!"
"The what?!"
"You know TWON IN THE PINK ONE IN THE STINK!!!"
by Kenneth Allen Bryant II "AL" October 24, 2004
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