A phrase used to tell a fellow man off when agitated, or as a response to verbal abuse. D is short for dick and as a whole insults the masculinity of your friend, implying he should give you a blowjob.
The state of your penis being wet, in oral or intercoursal form. A hybridization of the abbreviation of "D" for "Dick" and "Wet". D + Wet = dwet.
"It's a nice day for a white dwetting."
"Todd's so gonna get dwet now that his psoriasis is gone."
"She heard that I had flavored lube so she dwetted me in the bathroom."