A men's style of undergarment that holds the genitalia in a sling-like hammock apparatus, allowing the meat knot to protrude offensively. Favored by greasy Europeans at the beach, and even greasier weightlifters during competition and posedown sessions.
When I was swimming at the Y the other day, this hairy Italian hedgehog was hanging out at the pool all day showing off his silky red banana hammock.
1. Male speedo swimsuit. See bender. Banana hammock came about by the comparison and the long sexual induendo of the banana to the penis and because the speedo cradles the penis like a hammock would a banana. Hence ... Banana hammock.
Joe: This banana hammock's crushing my hardyboys. It's no mystery.