When a man or woman twists your penis until you cum. Or until you screech or it turns red. Think of it like twisting a towel to get the water out of it.
She squeezed my penis until I cummed. It looked like she was squeezing out a towel. She performed the towel twist.
Originating in California for an awesome, often sudden, happening, often a climax. Terminology comes from common sexting images where the subject teases with a loosely arranged drying cloth before they 'drop the towel'.
Hotel guest that orders up extra amenities (shampoo, lotion, or towels) to his room. When delivered by housekeeper, the guest comes out of the bathroom, drops towel covering himself and chases housekeeperaround the room naked.
Housekeeper to GM: "Sir, I just delivered 5 bottles of extra lotion to room 563 and the man came out of the bathroom, dropped his towel and chased me around the room naked".
GM to Hotel Employee: "Well sweetheart.....you got Tommy the Towel'd"!!
2) Mike 'Boom Boom' DeNola threw in the towel after three rounds. He'll probably have to spend a few days in the hospital, followed by a long convalescence in Miami.