It is what a young man would call his penis after having sex with a woman over the age of 40. You would use your Cougar Spear when in the process of a Cougar Hunt.
After a hot and steamy night with a "cougar," in the shower, on the counter, maybe even on the floor; she leaves you unexpectedly under cover of the night. May result in a deep deep depression, and possibly a sweet porn video you filmed without her knowledge.
"Hey man did you bring any chicks home after you left the bar?"