The ring around the anus formed by lubrication products and bodily fluids. Often contains damp matted hair. Upon observation it resembles an winking eye with too much mascara.
The asscrack of dawn is the time of day just before the crack of dawn when it is just about still dark; it is the time at which one might get out of bed if attending an urgent appointment at the crack of dawn.
John woke up at the asscrack of dawn with the intent to get to the shops just as they opened for the post-christmas sales in order to avoid getting trampled buy eager bargain-hunters.
A useful accessory, appropriate for when you have your fancy head stuck up your fancy ass.
Intimidating, superfluous and pompous behavior. Instigating power struggles by acting superior. Telling others that you know better than them on a matter of taste calls for an asscravat.