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1.
Noun: A beloved,deceased pet frozen for the benefit of the owner(s) who are not quite ready to depart with their dog. Certain veterinary offices are willing to keep your labsicle indefinitely for a fee.
Mr. Smith visited his labsicle frequently for several years until his grief ceased enough to get a new puppy.
by Doggone May 29, 2008
 
2.
Noun: A frozen labia by means of inserted ice cubes, subsequently coated in now hardened Cottee's Ice Magic (or equivalent magical hardening chocolate sauce).
It's such a hot day, and I'm really horny...I really could do with a Labsicle.
by Wogdog July 27, 2009