WARNING: Of course by doing this you are taking a chance that the machine could catch on fire, your house could explode or that you'll die alone and a virgin.
d00d 2: Dude, did you try the towel trick?
d00d 1: By George, how could I forget the towel trick? A trick so cleverly included with each 360 to recover idiot mistakes made by MS?!
From the popular way to get rid of your XBox 360's red ring of death, the "towel trick" involves putting a towel around your system and leaving it on for 24 hours, forcing it to overheat and thereby frying it. However, it is claimed to get your 360 to work for at least a few more days.
Now, it is also used to describe taking drastic measures to save or fix something.
Guy1: I can't believe I forgot to do that paper! I'm gonna copy Joe's and hope the Professor doesn't notice...
Guy2: Stop towel-tricking it, man!
Al got his finger chopped off by a saw at work the other day. I heard he towel-tricked it by packing it in ice and running to the emergency room.