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1.
What happens to a man's penis in cold water. Often a result of cold showers, swimming pools, or the ocean. Very embarrassing.
Man, that pool could make a porn star look like a 9 year old.

Damn my girlfriend dumped me when she saw me get out of the shower -- apparently she doesn't understand that shrinkage really CAN make a penis 1 inch long.
by thatsright December 26, 2004
481 68
 
2.
when the male sex organ gets smaller due to cold temperature
Give him a break, it's just shrinkage!
by lisagirl April 07, 2003
218 57
 
3.
What happens to your pecker in cold water. From a Seinfeld episode.
"Lorena, I don't really have a needle dick. I just got out of the pool!"
"Here, let me cut it off with these nail scissors,"
by Octopod November 21, 2003
186 54
 
4.
When a penis shrinks due tobeing exposed to cold weather. The pensis can become very small in comparison to normal, room temperature size. Highly unpleasent sight for an male.
I got in from the cold, went to the toilet, and when I unzipped I saw the shrinkage on my penis.
by The Asshatter December 17, 2006
93 48
 
5.
A phrase in inventory control that accounts for employee and customer theft.
The reason stuff costs so much in convenience stores is shrinkage.
by harry flashman July 10, 2003
79 114
 
6.
When the male penis get really small and shrinks in size because that dumbass is walkin in the freezing temperature, freezing his ass off. He should at least wear some layers if thats gonna happen everytime hes fuckin cold. No bitch wants to go near a fuckin penis thats had shrinkage!!!
Patrick should wear some damn pants if his penis is gonna get that small uz ain't nobody sleepin with that thing tonight!!
by Fuckhead April 24, 2003
40 173