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1.
n: the act of skateboarding down a road with one's genitals hanging out, and stroking, pulling, yanking, lubing up, etc said preferably erect penis in the process.

v: to masterbate furiously while skateboarding(usually done as a prank, but theres the occasional wierdo who does it because it gets him off.)
"So I did a little skaterbation past a local picnic today. Scared the little ones."
by Dunkappa September 26, 2007