Common midwestern net parlance, dinglez (or teh dinglez, properly) is a multifaceted word, which has a malleable meaning depending on usage and inflection of the individual uttering or typing the word. Most common intended use for the word would be a declaration of happiness, or a seal of approval being stamped upon something (ie the shit, awesome)- whether truthfully or facetiously.
Did you hear about the store on the corner selling Mickey's grenades now? That shit is teh dinglez.
Hey, Chase! Your hair makes me think one thing... dinglezLOL.