When you phone up a sexline in a phone box, and leave the phone off the hook while 2 people, members of opposite or same sex, have sex in the telephone box. Sign of best squinting llama's is when the windows steam up.
Jonny: Mate, I squinting llama-ed this babe last night. We got so hot that the windowssteamed up. It was like an erotic dream I once had.
The act of pretending to steal an item from a store, and subsequently sprinting away from the security guard. Can be a form of competition based on who can make it from said store to the nearest fast food chain as soon as possible.