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In UK slang terms the "dog's bollocks" means the best. It comes from the habit of male dog's licking their testicles (bollocks) and that they must taste good as they spend so much time in this activity.
The concert last night was the dog's bollocks.
by Robert Kingsley October 04, 2005
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2
British slang meaning one of the following.

1) To be the best example of its kind.

2) Dog testicles.

3) An alcoholic drink that can be found somewhere in most pubs or bars in the UK.
"The new Rolls-Royce phantom is the dogs' bollocks."

"The dogs' bollocks are gone, someone castrated him"

"No-one drinks the dogs bollocks, we just stock it because we like the name."
by Gumba Gumba February 25, 2004
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4
British Slang for 'the best ever'
also:
1.literally - dogs testicles
2.a game played on school playgrounds in Britain similar to British Bulldog but more hardcore
'That's the dogs bollocks, mate'
by Eryl September 23, 2005
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5
of outstanding quality
originating from 1950s packaging
box, deluxe - dog's bollocks
box, standard - bog standard
by Leo Sayer September 23, 2003
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6
Lit. Canine Testicles
Adjective phrase meaning excellent, or being of excellent quality. Usually applied to workmanship or build quality.
That car is te dog's bollocks mate
by Jamie *OJR* Forbes May 14, 2003
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7
UK slang meaning "the best".

If something "takes a lot of licking", it is the best. Dogs are always licking their bollocks, therefore "dog's bollocks" take a lot of licking. So "The dog's bollocks" is the best.
My new mobile phone has MP3, MP4, 6 megapixel camera, bluetooth and WAP. It's the dog's bollocks.
by Buggle December 03, 2007
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