Inspired by this common IM/SMS face --> ;)
Similar to "that's what she said" and "that's what he said". Used to turn any phrase or speech into a sexual innuendo.
In other words, it makes something into a sexual joke.
Usually typed as ";)" and spoken as "winkyface" however "winkyface" can be typed for stronger/more humorous effect.
What's up?.. winkyface
Why is there cream in my buns??... winkyface
(after being in the rain) Wow, I've never been this wet before... winkyface
That sucks ass... winkyface
As you can see, there's so many ways you can use it... winkyface