the sex act of taking a shit in between the girls boobs, then stick your dick in it, thus forming a resemblance of a chili dog. A variation is to then cum in the chili dog to serve as some mayonase.
Occurs during anal sex. Either with a man and women or two men. The man thrusting his penis into the anus gets a suprise of fecal matter on his penis. It looks like chili on a hot dog (penis), thus it is a chili dog.
When a man proceeds to engage in sexual intercourse (of the anal variety) with a woman or another man and while performing this act the man or woman defecates on the mans penis. The defecating man or woman then proceeds to eat the feces of of the mans penis, similar to that of eating the chili off of a chili dog. The penis is the hotdog, the buns are the buttocks of the recieving man or woman, and the feces are the chili.
Franks said his penis smelled like shit for three days after sally gave him the "chili dog."