The unfortunate event when fecal residue is left around the anus and the person in question does an activity which involves great exertion. This exercise leads to sweating and consequently blends with the faeces to form a substance known as 'BumOil'.
Dude 1: that was a great round of tennis Dude 2: yeah dude, but we should have stopped earlier, i've got bumoil running down my leg!