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Greased axle 

When you are having sexual intercourse and you quickly pull out and pour motor oil on your erect penis. Then you lay down, throw the woman (preferably drunk) on top of you, penetrate her, and spin her around until she vomits.
John: yo the party was crazy last night bro!

Mark: i no i was there!..i found jess in the garage and gave her the greased axle!

John: sickkkkk!
Greased axle by Fredmike April 13, 2009

greasy axle 

fuck its so hot ive got a greasy axle,
greasy axle by harrydare October 4, 2012

Velvet Axlegrease

The silky lubrication between your fingers after giving your woman a love rub.
Abraham: I hate giving mustache rides cause the velvet axlegrease goes up my nose.
Paco: That's why i always carry swimming goggles and nose plugs.