It's based on the old pissing on marshmallows in a toilet, a training tool posed to male kids needing to learn how to practice with their accuracy. It turned into a college gag, a fraternity prank, where frat boys would piss on a cookie and offer it to new initiates or to other frat boys.
have a wet cookie
by Quanta Cookie September 16, 2010
A male-based game in which a cookie is placed centered between a circle of 5-10 males. The men then have a contest to see who ejaculates last onto the cookie. The sorry soldier who spunks last must eat the cookie.
Matt had to eat the cookie because he climaxed last. Ew, there's cum on your cookie.
by Perro Grande January 09, 2004
when a group of you males, obiosly hetro, place a cookie in the center of a round table. Then they all proceed to gather around the table and jerk off onto the cookie. It may sound like fun to you rebel young americans out there, but the kicker is, the last person to get off has to eat the cookie. Delicous!
Eat up faggots.
by supersportsteve1 January 09, 2004