Raising the front tire of a motorcycle off the ground, squids use this to determine the alpha male of a group of gixxer riders. The longer the whoolie is held the danker it is.
A mysterious object of unknown origin, currently believed to be in the possession of Kanye West. Anyone who takes notice of said object will immediately attempt, vainly, to research its properties. It's an anti-memetic meme.
1: I swearI heard Kanye talking about his whooky sack in MBDTF.
2: What? When?
1: Sorry!
2: What?