When you or another person are in the act of having sex and in the end you get a surprise of realizing that the woman you were just having sex with is on their period and your penis is covered in blood.
"Dude, last night I was having sex and it was extrawet and extra good then I pulled out and turned on the lights only to realize that the girl I was with gave me candy dick."
"Gross"
To waste time in a manner found inappropriate by a superior or leader. Often times this is not the first time that such inefficiencies have taken place; use of this term implies frustration and eagerness to get said task completed.
-Dude, I can't play b-ball today 'cause I've got to finish up this flippin brief.
-Well, maybe if you'd stop dicking off asking for fucking tots all the time, you'd be done by now!!