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Toilet paper chicken 

A sign of a slightly dysfunctional share house. The toilet paper has run out and everyone bitches about it but there has been no agreement to take it in turns to buy more and no conversation occurs to resolve the situation. The person who bought the last packet flat out refuses to buy more out of principle so it is a game of chicken between the remaining housemates to see who gives in first and buys some more.
"We ran out off ass-wipe and my housemates have been playing toilet paper chicken for almost a week now. I'm really getting sick of using tissues"
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toilet paper overcompensation

using the bathroom at work or other public places regularly with low quality tp, then coming home to your thick and soft tp and accidentally unravelling much more than necessary, often leading to frustration and more often than not, no toilet paper.
Dude 1: Damnit! What happened to all the toilet paper?

Dude 2: Sorry bro, accidentally did some major toilet paper overcompensation today.

cardboard toilet paper tube 

A cardboard toilet paper tube is the hollow tube that holds a roll of toilet paper that most guys use at one time or another to jack off with after inserting their rock-hard cock in and jacking off until they have a cumgasm.
I still occasionally use a cardboard toilet paper tube to jack off with!

Toilet Paper Dick 

One who gets more ass than a toilet seat
Lil Wayne got that toilet paper dick
Make them hoes sick



"Legalize it!" ^_^

toilet paper 

Stock or options in a startup company, referring to the likeliness the money will have only imaginary value. In contrast to "real paper".
Person 1: "Hey, I got a great new job, paying $150k, working for a company that makes facebook apps!"

Person 2: "Really? Is it real paper or toilet paper?"

Person 1: "$60k base, $90k stock"

Person 2: "oh, so mostly toilet paper..."
toilet paper by Aaron Startupguy November 16, 2009

toilet paper 

an excellent product for masturbation. i cum into it all the time.
toilet paper by Why Bother April 3, 2006

Toilet Paper Bitch 

It's when mike goes to wipe his ass and his finger slips through the toilet paper. Therefore mike becomes the toilet paper bitch
mike washes his fingers in shame after becoming the toilet paper bitch