To slap your penis into someones face or somewhere else. Usually happens when everyone is drunk or stoned and someone passes out or falls asleep. When he/she gets zwaffle'd, everyone laughs their ass off.
Guy 1: Look, he passed out hahahha.
Guy 2: Well go ahead, give him a zwaffle
Guy 1 *slap*
Guy 3: w..w w-What the fuck man?
Everyone: AHAHAHAHAHHAHAHHAH!!!!
Ruler of Lake Titicaca. Rumored to have a bunghole that gets very angry if it does not receive toilet paper. Cornholio the Great is often seen walking around with his shirt over his head and his hands in the air, chanting songs about his power, and his bunghole.
"I am Cornholio! You do not want to face the wrath of my bunghole, for I need TP!"
Butthead: Shut up, Beavis! (uh huh huh huh)
Beavis: Um, okay. (heh heh heh heh).