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The Procrastination Guild 

A series of Google Groups and Forums started way back in 2005. They currently reside at http://procrastination.ipbfree.com/ , although the forum is largely dead, do to a move from a different forum hoster that didn't go over well.
The Procrastination Guild's many achievements include a gift shop, and the critically acclaimed title of "The Greatest Thing To Ever Happen, Ever".
Cpt. Amazing is a better poster that ihavnoclue on the Procrastination Guild
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Procrastinate in the Panty 

Similar to blue balls, procrastinate in the panty is in reference to a woman's repetition over a period of time that she would like to have sex but continues to put it off.
Kimberley tells me she wants to have sex but she keeps telling me she has to work on her paper.
Sorry man, your girls is really to Procrastinate in the Panty.