A penis with arms and legs made of smaller penises. Calling someone a cockaloid has a variety of meanings, but is usually used to call someone stupid, rude, or just a plain jackass.
Justin: "Did you see that dude with the skinny jeans and wool cap on in the weight room today?"
Brent: "Yeah man, what a cockaloid."
Brent: "Yeah man, what a cockaloid."
by bunthole February 6, 2011