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1.
The mixture of lubricant, semen and feces that accumulates on the penis after anal activity.
Joe: Dude, Tammy let me stick it in her ass last night!

Josh: Really? That's awesome!

Joe: Well, sort of, she had hot wings for lunch, so the velch burned my dick for hours afterward
by chalupafish July 31, 2013
 
2.
To vomit while attempting to belch and then, due to laughter, expel the vomit through the nasal passage causing an intense burning sensation. Synonym: blurp.
Come on Claire. Just because Jim's brother velched during his best man speech doesn't mean the whole wedding was ruined.
by Jest Magazine March 20, 2005