An attractive person who seemingly can't hold on to the same partner for long(be it because of personality, drugs, psychological issues or overprotective ex-marine father), and because of this get passed along like a hot potato.
"Man, poor Jenna is such a hot potato. I'd totally tap that though."
razorbacks engaged in anal sex when they're about to ejaculate they punch the lady in the back of the head so her anal cavity tightens making the orgasm better while grabbing your own boobs with potatoes.
Chris Yang gave Miguel an Arkansas Donkey Potato, even though Stephanie and Ina warned Miguel not to talk to Chris. Poor Miguel.