Dipping your passed out friend's penis in a bowl of ice or ice cream
We gave Matt an ice monkey last night.
When two gay guys are in the shower the one on the outside (away from the water) is the ice monkey.
The male's actual penis might also be referred to as the ice monkey.
If there are 3 male's in the shower , there is more then likely 2 ice monkeys. Gay males should use a hot tub to avoid getting ice monkied
The two gay males did not share the hot water equally and poor Bruce became an ice monkey.
Bruce's penis was out of the heat too long and shrunk down to a rather embarrassing ice monkey .