look up any word, like cunt:
 
1.
To rub a naked butt on another person. Best case is on exposed skin like an arm or bald head.
He dropped his pants, snuck up behind his room-mate who was sleeping on the couch and butt waxed his bald head.
by Ballzer February 16, 2006
 
2.
The waxy sebaceous substance that forms on and around one's buttocks.
Mr. Jones, this sample cream will resolve your buttwax problem.
by Myron Mulch July 12, 2006