A frenzied practitioner of consensual BDSM involving repetitive blows ("spanks") rained down upon the voluntarily uplifted bottom. By extension, someone who can't stop talking about this hobby.
Suzeemoon much enjoyed being disciplined by her Cariad using well-judged slaps upon her gluteus maxima - in fact, she was an incorrigible Spank Monkey.
A game in which two men (not gay) jerk each other off vigorously until one blows his load. After the winner may choose to call the guy a faggot and blow his load onto his face.
Dude me and gouch were playing Spank Ze Monkey yesterday and i totally fucking lost! He blew his load onto my eye and called me a faggot, humiliating as shit.