Just another everyday word for Penis. Clearly, making the point that the penis looks like a worm. An earthworm. To be specific, a naked earth worm Jim without the clothes.
Yeah man. Me and this chick were really hitting it off until she took me back and pulled out a worm dick.
I was so embarrassed I put my worm dick away and got out of there.
Well, did you bury your worm dick in her garden or what?!?