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the five finger knuckle shuffle on the one-eyed, blue-veined, purple-headed, custard-chucking, salty yogurt slinger.

Yeah, people actually do use this term, but they get it wrong mostlys.
The five finger, knu... aaawwww, fuck it. I whacked off.

the five finger knuckle shuffle on the one-eyed, blue-veined, purple-headed, custard-chucking, salty yogurt slinger

Masturbation.
In other words:
Choking the chicken
Choking the monkey
wacking off
jerking off
shaking hands with man's best friend
teasing the weasel
Dude, we all know that last night you did the five finger knuckle shuffle on the one-eyed, blue-veined, purple-headed, custard-chucking, salty yogurt slinger.

purple headed yogurt slinger

boner
erection
pitching a tent
sporting a wood
icicles formed
the march is on
stiffy
mr. mortis
rigor mortis has set in
flesh rocket
jack's magic beanstalk
tall tommy
mushroom on a stick
and, uh, pedro
varsity blues classic scene, purple headed yogurt slinger is the final example prior to pedro.

purple helmet yogurt slinger 

one of the better synonyms for penis. Often said preceding laughter.
On his way to the carnival, the purple helmet yogurt slinger attacked several bearded clam encampments.

Purple headed yogurt slinger

She wanted the purple headed yogurt slinger....so she drug her boyfriend to the bedroom for some one on one action!

Purple-headed Yogurt Slinger 

After the cock has become fully erect, and the choking of the member has turned it a light tint of purple, a consentrated, fishy-smelling white substance is slung from the head like yogurt.
After a woman has performed felatio on her man(hopefully her man) and she has yogurt on her face, the Purple Head has Slung the Yogurt.
Purple-headed Yogurt Slinger by John September 20, 2003