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1.
When one is wiping ones bottom and either the bog roll rips or there is a finger slippage resulting in the tickling of a whiskery brown 'ferret' or asshole.
Mate i just Tickled the Ferret

or

Man 1: Did you just Tickle the Ferret?
Man 2: Maybe...
by LORDofTHEnorth April 19, 2010