The rusty tugboat is when you hammer a nail into a 2by and also on to a womens ass cheek.You then proceed to drag her around the house by it while you masterbate..
"I tried to give this chick the rusty tugboat but the nails kept comeing out of her ass cheek"
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).