When two dudes slowly touch the tips of their erections together, then shine a flashlight on it.
Stands for Erectile Tapping
I think the E.T. is just a crude reinterpretation of the scene from the movie "E.T." in which Elliot and the alien slowly touch as the tips of their fingers light up.
An alien character in the Filthy Frank Show. He claimed that humans kept him away from going back on Earth. Sometimes, he jacks off to the Avatar movie, which he leaves marks of his semen on Frank's MacBook. He surely loves cocaine, but may have died once from it. He generally speaks with telepathy