Dicks on toast refers to the practice of placing your penis in a friend or family members meal before giving it to them.
Dad: Whats for Dinner tonight?

Mum: Dicks on toast.
by Chumplett May 26, 2009
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Unknowledgeable or having very little meaning or substance. Generally useless
Sam Lampe got a degree in dick and toast.
by damrogers December 10, 2013
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Putting your dick in a toaster, then pouring syrup all over your dick and wrapping it in a waffle so your girl/guy can eat and suck it at the same time.
"Babe can we do a dick toasted waffle"

"No I dont feel like putting my dick in a toaster so you can have waffles and dick at the same time"

"But Im hungry and horny"
by Smackthefap. April 10, 2015
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