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gonzo'ing 

The act in which two naked males stand facing one another while rubbing their limp penis' together.
Oh my god, what are Jay and Mark doing???

I think they are gonzo'ing.
gonzo'ing by bizzle777 January 10, 2009
The act or process of dropping one's testes into a passed-out or unconscious person's eye sockets and allowing the penis to rest down the victim's nose. The penis and balls should be in a formation mildly reminiscent to that of Muppets character Gonzo; qua gonzo-ing. Usually, conducted during the after-math of an epic party accompanied by photo-graphic evidence.
"Man, there's gonna be some serious gonzoing going down at tonights jam".