Dude: You have pussballs!!!
Homosexual:No! Well, I don't think I do.
1. When your testicles come in contact with a vagina. This is almost always achieved when the the male penetrates the females vagina as deeply as he can, so that his scrotum comes in contact with the vagina.
This can also be known as going "balls deep".
2. An insult to a male. See chickenshit.
1.1) "Ugh, I really should go shower. I've had pussballs for three days now."
1.2) "Hey there, pussballs! Have a good time last night?"
2.1) "Hey pussballs, I heard you backed out from the fight with that 9th grader!"
2.2) "I dare you to do it, pussballs!"