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3.
the prize that is saught after... what lies in her pants.... snatch.
let me get my hand into your lolly bag... them well talk!!!
by dick smith December 02, 2003
 
1.
Australian term for briefs, Speedo bathers or any other skimpy men's underwear that makes the wearer's package look like a bag of mixed lollies. Bad news for unfortunate witnesses.

Other useful terms are tighty whities, budgie smugglers (awesome mental picture that) and banana hammock.
Lolly bags: see above. Do I need to draw you a picture??!!
by Choda Boy 57 August 23, 2006
 
2.
Slang for scrotum sack
I saw an old man's lolly bag at the nude beach.
by silve-ja May 20, 2005