When a man's asshole is so blown out from anal sex, that his sphinctor stops to work and he diahreas every time he shits.
Adam-Dude after I got rammed by that donkey boner I have a loose moose caboose!
Nolan-aww man mines been ripped up for years, do you have any diapers yet?
The act of revealing you're genitals and shaft to perform in any sexual activity.
Boyfriend: "hey babe I'm gonna go.
Girlfriend: "why?"
Boyfriend: "I'm gonna go let loose the moose."
OR
"As the young lonely man was sitting in his basement he thought to himself, "now with mom and dad asleep I can let loose the moose."