n. Euphemism for a marijuana bowl or joint which has been stalled by its holder. Akin to 'having the conch' in Lord of the Flies, everyone dutifully is paying attention to the person with the weed, waiting for their own hit as it goes around. A long-winded stoner is apt to hold the bowl much longer than necessary before they hit it, causing other to chastise them to pass it along. Usage is most effective when the joint or bowl is being waved about as a speaking aid.
Hey man, is that talkstick you're holding going to get passed this century?
If you're not going to hit that talkstick, I'm going to.