1. When a homosexual male flirts with another male, whether gay or straight. 2. The request of or insinuation of anal sex.
some dude: I totally got a fudge nudge from our gym teacher, Mr. Cumguzzler.
other dude: Yeah he hides his boner under his clipboard, while watching us change in the locker room.
some chick: Stab my brown eye with your Betty Crocker Fuck Musle!
some guy: Nice fudge nudge, honey!
After doing a Number 2, the simple act of wiping that triggers the need to sit down again and complete unfinished business.
"Hey, Joe, you were ages in the toilet. What took you so long?"
"Sorry, Bill, I had a fudge nudge and had to sit down again and do some more."