A phrase started by Big Brother and America's player, Eric. As one of his many challenges, Eric had to say this phrase and get at least two or three people to start saying it to. Sometimes confused with, "I'd hit that", yet these phrases have complete different meanings. "I'd do that for a dollar" states that you will do something stupid (i.e jump naked into a lake when it's near below freezing outside) for one dollar.
by Sparky Jinkers December 3, 2007
Get the I'd do that for a dollar mug.