1. A form of punishment for a number of crimes not limited to but including douchebaggery, betrayal, or even buddy punching at the wrong time.
2. An assault on someones dick while fighting, usually it is attcked while trying to get a hold on someone.
3. Something to do to someone when you want to do something horrible but not to mean.
The victims of a dick grab usually dont know what to after the attack, they contemplate on buying the attacker dinner, taking a shower, or maby even commiting a dick grab themselves.
Michael: Dude Robbie just grabed my dick while we were fighting!
Chip: Sounds like you just got dick grabbed.
Robbie: Come here ill do it again you little bitch!